New York State Common Retirement Fund Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

New York State Common Retirement Fund lessened its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 671,149 shares of the medical research company's stock after selling 1,930 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of Amgen worth $209,096,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital World Investors grew its stake in shares of Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the period. Norges Bank acquired a new stake in shares of Amgen during the 4th quarter worth approximately $1,541,991,000. GAMMA Investing LLC grew its stake in shares of Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after purchasing an additional 3,653,205 shares during the period. Capital International Investors grew its stake in shares of Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after purchasing an additional 3,495,503 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Amgen by 52.7% during the 4th quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company's stock worth $858,020,000 after purchasing an additional 1,135,884 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Trading Down 0.2%

AMGN traded down $0.52 on Monday, hitting $294.76. The company had a trading volume of 214,853 shares, compared to its average volume of 2,837,401. The firm has a market cap of $158.49 billion, a P/E ratio of 26.99, a PEG ratio of 2.67 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company's fifty day moving average price is $283.56 and its 200 day moving average price is $288.31. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AMGN shares. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Mizuho lifted their price target on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. UBS Group restated a "neutral" rating and issued a $315.00 price objective (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Finally, William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $307.82.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction dated 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 directly owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.69% of the company's stock.

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.