Texas Permanent School Fund Corp Has $31.45 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Texas Permanent School Fund Corp increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,596 shares of the medical research company’s stock after purchasing an additional 91 shares during the period. Texas Permanent School Fund Corp’s holdings in Amgen were worth $31,445,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMGN. Horizon Financial Services LLC bought a new position in shares of Amgen in the first quarter valued at approximately $28,000. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen in the fourth quarter valued at approximately $29,000. United Community Bank bought a new position in shares of Amgen in the fourth quarter valued at approximately $29,000. Planned Solutions Inc. bought a new position in shares of Amgen in the fourth quarter valued at approximately $30,000. Finally, Delos Wealth Advisors LLC lifted its holdings in shares of Amgen by 2,500.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. TD Cowen dropped their target price on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. BMO Capital Markets boosted their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. UBS Group boosted their price objective on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $230.00 to $300.00 in a research report on Friday, May 3rd. Finally, Argus boosted their price objective on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $307.00.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.69% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $3.42 during midday trading on Thursday, reaching $325.09. 2,253,879 shares of the company traded hands, compared to its average volume of 2,721,015. The firm has a market capitalization of $174.39 billion, a price-to-earnings ratio of 46.38, a price-to-earnings-growth ratio of 2.81 and a beta of 0.58. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The firm’s fifty day moving average price is $307.86 and its two-hundred day moving average price is $294.15. Amgen Inc. has a 12 month low of $224.09 and a 12 month high of $329.72.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.98 EPS. On average, equities analysts expect that Amgen Inc. will post 19.47 earnings per share for the current year.

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.