Retirement Systems of Alabama Has $108.87 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Retirement Systems of Alabama lifted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 200.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,434 shares of the medical research company's stock after purchasing an additional 233,053 shares during the quarter. Retirement Systems of Alabama owned 0.06% of Amgen worth $108,866,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMGN. Walter & Keenan Wealth Management LLC IN ADV increased its position in shares of Amgen by 0.9% during the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 9,930 shares of the medical research company's stock worth $3,094,000 after purchasing an additional 93 shares in the last quarter. Trifecta Capital Advisors LLC increased its holdings in shares of Amgen by 10.0% during the first quarter. Trifecta Capital Advisors LLC now owns 12,596 shares of the medical research company's stock worth $3,924,000 after buying an additional 1,143 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Amgen by 17.7% during the first quarter. Blue Trust Inc. now owns 2,808 shares of the medical research company's stock worth $875,000 after buying an additional 422 shares in the last quarter. Townsend Asset Management Corp NC ADV increased its holdings in shares of Amgen by 10.3% during the first quarter. Townsend Asset Management Corp NC ADV now owns 4,836 shares of the medical research company's stock worth $1,507,000 after buying an additional 451 shares in the last quarter. Finally, Autumn Glory Partners LLC acquired a new stake in shares of Amgen during the first quarter worth approximately $201,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. UBS Group reissued a "neutral" rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Bank of America raised their price target on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Finally, Royal Bank Of Canada lowered their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $309.22.

Amgen Trading Down 0.1%

Shares of AMGN stock traded down $0.30 on Friday, hitting $289.33. The stock had a trading volume of 6,801,322 shares, compared to its average volume of 2,835,249. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The firm 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 current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The company has a fifty day moving average price of $281.82 and a two-hundred day moving average price of $285.96.

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

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by 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.