Illinois Municipal Retirement Fund Has $3.70 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Illinois Municipal Retirement Fund lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 34.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,887 shares of the medical research company's stock after selling 6,372 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Amgen were worth $3,703,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Diversified Trust Co raised its stake in Amgen by 4.8% during the 1st quarter. Diversified Trust Co now owns 38,635 shares of the medical research company's stock valued at $12,037,000 after acquiring an additional 1,780 shares in the last quarter. Beacon Financial Advisory LLC lifted its stake in Amgen by 11.4% during the first quarter. Beacon Financial Advisory LLC now owns 861 shares of the medical research company's stock valued at $268,000 after purchasing an additional 88 shares during the last quarter. PDS Planning Inc grew its holdings in shares of Amgen by 21.4% in the 1st quarter. PDS Planning Inc now owns 2,788 shares of the medical research company's stock worth $869,000 after acquiring an additional 492 shares during the last quarter. Bank of Stockton raised its holdings in Amgen by 7.0% during the 1st quarter. Bank of Stockton now owns 1,139 shares of the medical research company's stock worth $355,000 after buying an additional 75 shares during the period. Finally, DLK Investment Management LLC lifted its stake in Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after buying an additional 1,387 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMGN. Mizuho lifted their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. UBS Group reiterated a "neutral" rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Bank of America increased their target price on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Johnson Rice set a $294.00 price target on Amgen in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $307.82.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $6.22 during trading hours on Wednesday, hitting $296.74. 1,458,186 shares of the company's stock were exchanged, compared to its average volume of 2,832,601. The company's 50-day moving average price is $281.37 and its 200-day moving average price is $286.28. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The stock has a market capitalization of $159.56 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.53 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

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

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.