Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp increased its stake in Amgen Inc. by 2.7%, now holding 277,397 shares valued at approximately $86.4 million.
• Amgen recently reported quarterly earnings of $4.90 EPS, exceeding analysts' expectations, with revenue of $8.15 billion, which is a 9.4% increase year-over-year.
• The company announced a quarterly dividend of $2.38 per share, yielding 3.2% annually as of the last reporting period.

Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,397 shares of the medical research company's stock after acquiring an additional 7,308 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Amgen worth $86,423,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of AMGN. Endeavor Private Wealth Inc. grew its position in Amgen by 412.7% in the 1st quarter. Endeavor Private Wealth Inc. now owns 2,953 shares of the medical research company's stock worth $920,000 after purchasing an additional 2,377 shares in the last quarter. Fiduciary Wealth Partners LLC bought a new stake in Amgen during the first quarter valued at $280,000. SPC Financial Inc. lifted its stake in Amgen by 3.4% during the first quarter. SPC Financial Inc. now owns 3,469 shares of the medical research company's stock worth $1,081,000 after purchasing an additional 115 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. increased its holdings in shares of Amgen by 5.5% in the first quarter. Strategic Family Wealth Counselors L.L.C. now owns 1,131 shares of the medical research company's stock worth $352,000 after buying an additional 59 shares during the period. Finally, Baker Avenue Asset Management LP increased its holdings in Amgen by 269.1% during the 1st quarter. Baker Avenue Asset Management LP now owns 12,254 shares of the medical research company's stock valued at $3,818,000 after purchasing an additional 8,934 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Guggenheim began coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target for the company. William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Piper Sandler reaffirmed an "overweight" rating and set a $328.00 price target on shares of Amgen in a research note on Friday, June 27th. Finally, Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Amgen has a consensus rating of "Hold" and an average target price of $307.00.

Amgen Price Performance

Shares of AMGN traded down $15.29 during mid-day trading on Wednesday, hitting $284.79. 3,750,363 shares of the company were exchanged, compared to its average volume of 2,907,998. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. The stock has a market cap of $153.13 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The company has a 50 day moving average of $293.06 and a 200-day moving average of $292.45.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.97 EPS. Analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors 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 dividend yield of 3.3%. Amgen's dividend payout ratio (DPR) is 77.84%.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.76% of the stock is owned by company 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.