Meiji Yasuda Life Insurance Co Has $6.78 Million Stock Holdings in Amgen Inc. $AMGN

Key Points

• Meiji Yasuda Life Insurance Co has reduced its stake in Amgen Inc. by 6.1%, owning 21,770 shares valued at approximately $6.78 million after selling 1,424 shares in the first quarter.
• Amgen's recent quarterly earnings exceeded expectations, reporting $6.02 EPS against a consensus estimate of $5.28, with a revenue of $9.18 billion for the quarter.
• The company declared a quarterly dividend of $2.38 per share, resulting in an annualized dividend yield of 3.4% and a payout ratio of 77.84%.

Meiji Yasuda Life Insurance Co decreased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,770 shares of the medical research company's stock after selling 1,424 shares during the quarter. Meiji Yasuda Life Insurance Co's holdings in Amgen were worth $6,782,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Continuum Advisory LLC raised its stake in Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after buying an additional 35 shares in the last quarter. Octavia Wealth Advisors LLC lifted its position in Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock valued at $759,000 after acquiring an additional 35 shares during the period. Affinity Capital Advisors LLC lifted its position in Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock valued at $246,000 after acquiring an additional 37 shares during the period. Accredited Investors Inc. lifted its position in Amgen by 1.7% during the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock valued at $674,000 after acquiring an additional 37 shares during the period. Finally, Rockline Wealth Management LLC boosted its stake in Amgen by 3.2% in the 1st quarter. Rockline Wealth Management LLC now owns 1,240 shares of the medical research company's stock worth $386,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Guggenheim started coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price on the stock. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Morgan Stanley increased their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $304.43.

Amgen Stock Performance

Shares of AMGN opened at $283.64 on Monday. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The firm has a market capitalization of $152.70 billion, a P/E ratio of 23.19, a PEG ratio of 2.46 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. The business has a fifty day moving average of $293.85 and a 200 day moving average of $292.56.

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

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.4%. Amgen's payout ratio is presently 77.84%.

Insider Buying and Selling

In other Amgen news, 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 value of $376,286.33. Following the sale, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by insiders.

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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