AMF Tjanstepension AB Grows Stake in Amgen Inc. $AMGN

Key Points

• AMF Tjanstepension AB increased its stake in Amgen Inc. by 91.2% in Q2, owning 156,117 shares worth approximately $43.6 million.
• Amgen reported $6.02 earnings per share for its last quarter, exceeding estimates by $0.74, and had a revenue of $9.18 billion, a 9.4% increase from the prior year.
• The company's quarterly dividend of $2.38 per share represents a 3.2% yield, with a current dividend payout ratio of 77.84%.

AMF Tjanstepension AB boosted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 91.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 156,117 shares of the medical research company's stock after acquiring an additional 74,472 shares during the quarter. AMF Tjanstepension AB's holdings in Amgen were worth $43,615,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen in the 1st quarter valued at approximately $25,000. First Pacific Financial boosted its stake in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after buying an additional 85 shares during the last quarter. Activest Wealth Management boosted its position in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after acquiring an additional 103 shares during the period. Finally, Nova Wealth Management Inc. grew its position in Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock valued at $38,000 after buying an additional 122 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company's stock.

Amgen Stock Performance

AMGN stock opened at $297.89 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The business's 50-day moving average price is $287.34 and its two-hundred day moving average price is $288.36. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The firm has a market cap of $160.37 billion, a PE ratio of 24.36, a P/E/G ratio of 2.58 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $8.86 billion. During the same period in the prior year, the firm earned $4.97 earnings per share. Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

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

Analyst Ratings Changes

AMGN has been the subject of several research reports. UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Morgan Stanley boosted their target price on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Weiss Ratings restated a "hold (c+)" rating on shares of Amgen in a research note on Saturday, September 27th. Finally, Piper Sandler upped their target price on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. Seven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $309.70.

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.

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