Asset Management One Co. Ltd. Boosts Stock Holdings in Amgen Inc. $AMGN

Key Points

• Asset Management One Co. Ltd. increased its holdings in Amgen Inc. by 1.9%, acquiring a total of 340,761 shares valued at approximately $95.1 million at the end of Q2.
• Amgen reported significant earnings results, achieving $6.02 EPS, exceeding expectations and marking a 9.4% year-over-year revenue increase.
• The company recently announced a quarterly dividend of $2.38 per share, resulting in an annual yield of 3.3%, with a payout ratio of 77.84%.

Asset Management One Co. Ltd. boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 340,761 shares of the medical research company's stock after acquiring an additional 6,506 shares during the period. Asset Management One Co. Ltd. owned 0.06% of Amgen worth $95,144,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AMGN. Brighton Jones LLC grew its stake in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after acquiring an additional 5,226 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Amgen by 40.2% in the 1st quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company's stock worth $3,662,000 after buying an additional 3,369 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Amgen in the 1st quarter worth $276,000. First Pacific Financial grew its stake 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 buying an additional 67 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its stake in shares of Amgen by 165.9% in the 1st quarter. Golden State Wealth Management LLC now owns 4,871 shares of the medical research company's stock worth $1,518,000 after buying an additional 3,039 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business'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 $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is currently owned by company insiders.

Amgen Price Performance

Amgen stock opened at $292.89 on Friday. The stock has a market cap of $157.68 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 2.62 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The firm has a 50-day moving average of $288.02 and a two-hundred day moving average of $287.23.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data 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 company had revenue of $9.18 billion during 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%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMGN shares. Wall Street Zen raised shares of Amgen from a "hold" rating to a "buy" rating in a research note on Sunday, October 19th. Piper Sandler lifted their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. UBS Group dropped their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Bank of America lifted their price objective on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a research note on Friday, September 26th. Finally, Raymond James Financial started coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a "market perform" rating for the company. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $300.94.

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.

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