Arbejdsmarkedets Tillaegspension Invests $24.26 Million in Amgen Inc. $AMGN

Key Points

• Arbejdsmarkedets Tillaegspension opened a new position in Amgen during the fourth quarter, buying 74,108 shares valued at about $24.26 million.
• Amgen reported better-than-expected quarterly results, with EPS of $5.15 versus estimates of $4.77 and revenue of $8.62 billion, up 5.8% from a year earlier.
• The company also announced a quarterly dividend of $2.52 per share, which annualizes to $10.08 and implies a dividend yield of about 3.0%.

Arbejdsmarkedets Tillaegspension acquired a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,108 shares of the medical research company's stock, valued at approximately $24,256,000.

Several other large investors also recently made changes to their positions in the business. Avantax Planning Partners Inc. increased its position in shares of Amgen by 1.7% in the fourth quarter. Avantax Planning Partners Inc. now owns 31,015 shares of the medical research company's stock worth $10,151,000 after acquiring an additional 532 shares in the last quarter. Conning Inc. grew its holdings in Amgen by 2,624.8% during the 4th quarter. Conning Inc. now owns 101,689 shares of the medical research company's stock valued at $33,284,000 after purchasing an additional 97,957 shares in the last quarter. New York Life Investment Management LLC grew its holdings in Amgen by 1.0% during the 4th quarter. New York Life Investment Management LLC now owns 73,855 shares of the medical research company's stock valued at $24,173,000 after purchasing an additional 719 shares in the last quarter. Berman McAleer LLC acquired a new stake in Amgen during the 4th quarter valued at $220,000. Finally, Pinnacle Associates Ltd. grew its holdings in Amgen by 0.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 63,117 shares of the medical research company's stock valued at $20,659,000 after purchasing an additional 434 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Ratings Changes

AMGN has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of Amgen from $390.00 to $400.00 and gave the company a "buy" rating in a report on Monday, April 13th. Argus raised their price target on shares of Amgen from $360.00 to $400.00 and gave the company a "buy" rating in a report on Friday, February 6th. Barclays initiated coverage on shares of Amgen in a report on Friday, February 20th. They set an "equal weight" rating and a $350.00 price target for the company. Freedom Capital raised shares of Amgen from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Finally, Guggenheim lowered their price target on shares of Amgen from $351.00 to $340.00 and set a "neutral" rating for the company in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $356.15.

Amgen Stock Down 0.1%

AMGN stock opened at $336.23 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. Amgen Inc. has a fifty-two week low of $264.15 and a fifty-two week high of $391.29. The firm's 50-day simple moving average is $350.23 and its 200 day simple moving average is $343.11. The stock has a market cap of $181.46 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 3.38 and a beta of 0.44.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. The business had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 22.36 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $10.08 annualized dividend and a dividend yield of 3.0%. Amgen's payout ratio is currently 70.15%.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the transaction, the senior vice president owned 7,009 shares of the company's stock, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.85% of the stock is owned by corporate insiders.

About Amgen

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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