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OMERS ADMINISTRATION Corp Grows Stake in Amgen Inc. $AMGN

Amgen logo with Medical background

Key Points

  • OMERS ADMINISTRATION Corp increased its holdings in Amgen by 33.6%, owning 32,277 shares worth over $10 million after acquiring an additional 8,111 shares.
  • Several institutional investors have made significant adjustments to their positions in Amgen, with GAMMA Investing raising its holdings by 43,573.5% during the first quarter.
  • Amgen reported a better-than-expected earnings per share of $6.02 for the recent quarter, exceeding estimates by $0.74 and showing a year-over-year revenue increase of 9.4%.
  • Want stock alerts on Amgen? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

OMERS ADMINISTRATION Corp raised its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 33.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 32,277 shares of the medical research company's stock after purchasing an additional 8,111 shares during the period. OMERS ADMINISTRATION Corp's holdings in Amgen were worth $10,056,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AMGN. Brighton Jones LLC lifted its position in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after buying an additional 5,226 shares in the last quarter. Forum Financial Management LP lifted its position in shares of Amgen by 0.7% during the 4th quarter. Forum Financial Management LP now owns 352,784 shares of the medical research company's stock worth $91,950,000 after buying an additional 2,411 shares in the last quarter. PDT Partners LLC lifted its position in shares of Amgen by 480.6% during the 4th quarter. PDT Partners LLC now owns 5,806 shares of the medical research company's stock worth $1,513,000 after buying an additional 4,806 shares in the last quarter. Voleon Capital Management LP bought a new position in shares of Amgen during the 4th quarter worth approximately $1,524,000. Finally, Bridgewealth Advisory Group LLC bought a new position in shares of Amgen during the 4th quarter worth approximately $417,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $2.10 during mid-day trading on Friday, reaching $287.71. The company had a trading volume of 1,302,709 shares, compared to its average volume of 2,094,510. 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 firm has a market cap of $154.89 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 2.50 and a beta of 0.49. The company's 50-day moving average price is $293.13 and its 200-day moving average price is $292.92. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17.

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

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. Amgen's payout ratio is presently 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following 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 disclosure for this sale can be found here. Insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on AMGN shares. Citigroup lifted 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. Guggenheim started coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. William Blair reissued an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Bank of America lifted their target price 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $304.43.

View Our Latest Stock Analysis on AMGN

About Amgen

(Free Report)

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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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