Livforsakringsbolaget Skandia Omsesidigt Acquires 9,200 Shares of Amgen Inc. $AMGN

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Amgen by 19.6% during the second quarter, owning approximately $15.69 million worth of shares.
• Amgen recently reported earnings of $6.02 per share, surpassing analysts' expectations, with revenues hitting $9.18 billion in the latest quarter.
• The company declared a quarterly dividend of $2.38 per share, yielding 3.5%, with a payout ratio of 77.84%.

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 19.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,218 shares of the medical research company's stock after purchasing an additional 9,200 shares during the quarter. Amgen comprises about 0.7% of Livforsakringsbolaget Skandia Omsesidigt's holdings, making the stock its 28th biggest holding. Livforsakringsbolaget Skandia Omsesidigt's holdings in Amgen were worth $15,689,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen during the 1st quarter valued at approximately $25,000. First Pacific Financial lifted its position in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after acquiring an additional 67 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after buying an additional 85 shares during the period. Pinney & Scofield Inc. acquired a new stake in shares of Amgen in the 4th quarter valued at $26,000. Finally, Activest Wealth Management grew its stake in shares of Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after purchasing an additional 103 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction 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 sale, the senior vice president directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research reports. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Citigroup upped their target price on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Raymond James Financial started coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating for the company. UBS Group reduced their price target on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Finally, Bank of America upped their price target on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Amgen currently has a consensus rating of "Hold" and an average price target of $304.43.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $9.58 during trading on Friday, hitting $285.41. 8,729,346 shares of the company were exchanged, compared to its average volume of 1,985,005. The stock has a 50 day moving average of $290.57 and a 200 day moving average of $290.48. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market cap of $153.65 billion, a PE ratio of 23.34, a P/E/G ratio of 2.48 and a beta of 0.49.

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

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders 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 3.3%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is 77.84%.

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.