Amgen Inc. $AMGN Stake Increased by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System increased its stake in Amgen Inc. by 1.9% during the second quarter, owning approximately 0.08% of the company worth $125 million.
• Amgen's recent quarterly earnings showed a significant 9.4% year-over-year revenue increase, with earnings per share of $6.02, exceeding analysts' expectations.
• The company declared a quarterly dividend of $2.38 per share, resulting in an annualized yield of 3.2% for investors.

New York State Teachers Retirement System increased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 447,779 shares of the medical research company's stock after buying an additional 8,392 shares during the period. New York State Teachers Retirement System owned about 0.08% of Amgen worth $125,024,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen in the first quarter worth $25,000. First Pacific Financial increased its stake in Amgen by 304.5% during the first 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 last quarter. CBIZ Investment Advisory Services LLC increased its stake in 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 purchasing an additional 85 shares during the last quarter. Activest Wealth Management increased its stake in Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after purchasing an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. increased its stake in Amgen by 12,200.0% during the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock valued at $38,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.76% of the company's stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $297.32 on Thursday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. 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 company has a market capitalization of $160.07 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 2.60 and a beta of 0.49. The firm has a 50-day moving average of $286.71 and a two-hundred day moving average of $287.44.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the company earned $4.97 EPS. Amgen'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. As a group, analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Bank of America boosted their target price on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research note on Friday, September 26th. Piper Sandler boosted their target price on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Raymond James Financial assumed coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating for the company. UBS Group lowered their price target on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Finally, Citigroup upped their price target on shares of Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $309.42.

Amgen 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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