Alaska Permanent Fund Corp Has $16.14 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Alaska Permanent Fund Corp trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,051 shares of the medical research company’s stock after selling 4,196 shares during the period. Alaska Permanent Fund Corp’s holdings in Amgen were worth $16,144,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMGN. Briaud Financial Planning Inc acquired a new stake in shares of Amgen during the 3rd quarter worth approximately $26,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amgen during the 4th quarter worth approximately $29,000. OFI Invest Asset Management acquired a new stake in shares of Amgen during the 3rd quarter worth approximately $26,000. Planned Solutions Inc. acquired a new stake in shares of Amgen during the 4th quarter worth approximately $30,000. Finally, Providence Capital Advisors LLC acquired a new stake in shares of Amgen during the 3rd quarter worth approximately $30,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the subject of several analyst reports. SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. Raymond James initiated coverage on shares of Amgen in a report on Thursday, March 28th. They set a “market perform” rating for the company. Morgan Stanley decreased their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Truist Financial restated a “buy” rating and set a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Finally, UBS Group decreased their price objective on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average target price of $296.95.

Amgen Price Performance

AMGN stock traded up $0.03 during mid-day trading on Thursday, reaching $273.04. 89,645 shares of the company traded hands, compared to its average volume of 2,805,308. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The company has a market capitalization of $146.45 billion, a P/E ratio of 21.86, a P/E/G ratio of 2.55 and a beta of 0.58. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The company has a fifty day moving average price of $275.77 and a 200-day moving average price of $281.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the previous year, the firm earned $4.09 earnings per share. Amgen’s revenue was up 19.8% on a year-over-year basis. As a group, analysts anticipate that Amgen Inc. will post 19.42 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is currently 72.06%.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.