Louisiana State Employees Retirement System Sells 400 Shares of Amgen Inc. $AMGN

Louisiana State Employees Retirement System cut its position in Amgen Inc. (NASDAQ:AMGN) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,700 shares of the medical research company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Amgen were worth $18,903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Brighton Jones LLC grew its stake in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in Amgen by 0.6% during the 1st quarter. First Citizens Bank & Trust Co. now owns 9,862 shares of the medical research company’s stock valued at $3,073,000 after purchasing an additional 58 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Amgen by 27.5% during the 1st quarter. Farther Finance Advisors LLC now owns 12,801 shares of the medical research company’s stock valued at $3,929,000 after purchasing an additional 2,759 shares during the last quarter. Fourpath Capital Management LLC lifted its holdings in Amgen by 18.6% during the 1st quarter. Fourpath Capital Management LLC now owns 3,555 shares of the medical research company’s stock valued at $1,108,000 after purchasing an additional 558 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Amgen by 40.2% during the 1st quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company’s stock valued at $3,662,000 after purchasing an additional 3,369 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Up 0.5%

AMGN opened at $295.54 on Wednesday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The company has a market capitalization of $159.11 billion, a P/E ratio of 24.17, a P/E/G ratio of 2.55 and a beta of 0.49. The stock has a fifty day moving average of $287.04 and a 200-day moving average of $287.88.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter last year, the firm earned $4.97 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Piper Sandler raised their price target on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Bank of America raised their price target on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Raymond James Financial assumed coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $309.42.

Amgen Company 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.