Police & Firemen s Retirement System of New Jersey Grows Stock Holdings in Amgen Inc. $AMGN

Police & Firemen s Retirement System of New Jersey grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 81,639 shares of the medical research company’s stock after buying an additional 3,505 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Amgen were worth $22,794,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AMGN. Bailard Inc. increased its stake in shares of Amgen by 6.3% during the second quarter. Bailard Inc. now owns 49,458 shares of the medical research company’s stock valued at $13,809,000 after buying an additional 2,925 shares during the period. Geode Capital Management LLC lifted its stake in Amgen by 2.3% in the second quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock worth $3,619,489,000 after acquiring an additional 291,271 shares during the period. ABC Arbitrage SA increased its position in Amgen by 12.4% during the 2nd quarter. ABC Arbitrage SA now owns 5,756 shares of the medical research company’s stock valued at $1,607,000 after purchasing an additional 634 shares during the period. Everett Harris & Co. CA lifted its position in shares of Amgen by 1.2% in the 2nd quarter. Everett Harris & Co. CA now owns 23,633 shares of the medical research company’s stock worth $6,599,000 after purchasing an additional 278 shares during the period. Finally, United Asset Strategies Inc. boosted its stake in shares of Amgen by 1.9% during the 2nd quarter. United Asset Strategies Inc. now owns 30,922 shares of the medical research company’s stock valued at $8,634,000 after purchasing an additional 589 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $336.28 on Thursday. The business has a 50-day simple moving average of $292.73 and a two-hundred day simple moving average of $289.69. 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 firm has a market cap of $181.08 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $342.40.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.63. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, November 21st. Amgen’s dividend payout ratio is 73.57%.

Wall Street Analyst Weigh In

AMGN has been the subject of several research analyst reports. Raymond James Financial started coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Cantor Fitzgerald raised their target price on Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Piper Sandler reissued an “overweight” rating on shares of Amgen in a research report on Wednesday, November 5th. Finally, Guggenheim boosted their price objective on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $307.94.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

About Amgen

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.