Amgen Inc. (NASDAQ:AMGN) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 41.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,601 shares of the medical research company's stock after selling 11,105 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Amgen were worth $4,860,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AMGN. Capital World Investors lifted its stake in shares of Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after purchasing an additional 6,029,058 shares during the last quarter. Norges Bank acquired a new position in shares of Amgen in the 4th quarter valued at $1,541,991,000. GAMMA Investing LLC lifted its stake in shares of Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after purchasing an additional 3,653,205 shares during the last quarter. Capital International Investors lifted its stake in shares of Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Ratings Changes

AMGN has been the topic of several recent analyst reports. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Royal Bank Of Canada decreased their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Bank of America upped their price target on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a report on Wednesday, March 5th. Finally, UBS Group restated a "neutral" rating and set a $315.00 price target (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen has an average rating of "Hold" and an average target price of $309.22.

Amgen Trading Down 0.1%

AMGN opened at $289.33 on Friday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a market cap of $155.58 billion, a P/E ratio of 26.40, a PEG ratio of 2.62 and a beta of 0.51. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The business's 50-day simple moving average is $281.82 and its 200-day simple moving average is $286.02.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.96 EPS. As a group, equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.76% of the stock is currently owned by company insiders.

Amgen Profile

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.

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