Amgen Inc. $AMGN Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in Amgen Inc. (NASDAQ:AMGN) by 6.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 625,139 shares of the medical research company’s stock after selling 39,789 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of Amgen worth $176,414,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after acquiring an additional 5,226 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Amgen by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock worth $331,000 after purchasing an additional 114 shares during the last quarter. Janney Capital Management LLC grew its position in shares of Amgen by 27.6% in the second quarter. Janney Capital Management LLC now owns 1,037 shares of the medical research company’s stock valued at $290,000 after purchasing an additional 224 shares in the last quarter. Union Bancaire Privee UBP SA increased its holdings in shares of Amgen by 94.4% in the second quarter. Union Bancaire Privee UBP SA now owns 4,432 shares of the medical research company’s stock valued at $1,237,000 after purchasing an additional 2,152 shares during the last quarter. Finally, Alley Investment Management Company LLC increased its stake in shares of Amgen by 1.1% in the 2nd quarter. Alley Investment Management Company LLC now owns 25,052 shares of the medical research company’s stock worth $6,995,000 after acquiring an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $342.22 on Thursday. The company’s 50 day simple moving average is $332.38 and its 200-day simple moving average is $308.67. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. Amgen Inc. has a 1 year low of $261.43 and a 1 year high of $353.25. The company has a market capitalization of $184.28 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 3.11 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. During the same quarter last year, the company posted $5.58 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This is a boost from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.9%. Amgen’s payout ratio is presently 73.57%.

Insider Activity at Amgen

In related news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the transaction, the executive vice president owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the completion of the transaction, the senior vice president directly owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 10,908 shares of company stock worth $3,674,966. 0.69% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Amgen in a report on Monday, December 29th. Cantor Fitzgerald boosted their target price on shares of Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. BMO Capital Markets raised their price target on shares of Amgen from $335.00 to $372.00 and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. Guggenheim lifted their price target on shares of Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Finally, Scotiabank initiated coverage on Amgen in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $339.71.

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.