Amgen Inc. $AMGN Stake Lessened by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Amgen Inc. by 0.9%, owning 221,004 shares valued at $61.7 million after the sale.
• Amgen announced a quarterly dividend of $2.38 per share, with an annualized yield of 3.3%.
• The company reported earnings of $6.02 per share for the last quarter, outperforming analysts' estimates and showing a revenue increase of 9.4% year-over-year.

Public Employees Retirement System of Ohio lessened its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 221,004 shares of the medical research company's stock after selling 1,999 shares during the period. Public Employees Retirement System of Ohio's holdings in Amgen were worth $61,707,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Amgen by 0.3% during the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock valued at $16,471,790,000 after purchasing an additional 148,658 shares during the last quarter. Royal Bank of Canada lifted its holdings in Amgen by 6.0% in the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company's stock valued at $1,521,339,000 after acquiring an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Amgen by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company's stock valued at $1,387,695,000 after buying an additional 243,306 shares in the last quarter. GAMMA Investing LLC lifted its stake in Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after buying an additional 3,653,205 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Amgen by 1.6% during the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company's stock valued at $1,017,525,000 after buying an additional 52,734 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Amgen Trading Up 0.3%

NASDAQ AMGN opened at $286.81 on Wednesday. Amgen Inc. has a 1-year low of $253.30 and a 1-year 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 stock has a 50-day moving average of $290.23 and a 200-day moving average of $290.00. The firm has a market cap of $154.41 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 2.48 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) 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 firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the company earned $4.97 EPS. The business's revenue 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, sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen's payout ratio is 77.84%.

Insiders Place Their Bets

In other 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 value of $376,286.33. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.69% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on AMGN. Piper Sandler increased their price objective on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. William Blair restated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Citigroup lifted their price objective on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Bank of America raised their target price on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Amgen currently has a consensus rating of "Hold" and a consensus price target of $304.43.

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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