Mutual of America Capital Management LLC Reduces Stock Position in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Mutual of America Capital Management LLC reduced its stake in Amgen by 3.0%, owning 62,610 shares valued at approximately $19.51 million following the sale of 1,925 shares in the first quarter.
• Several large investors, including Capital International Investors and Capital World Investors, have significantly increased their holdings in Amgen, with institutional investors owning about 76.50% of the company's stock.
• Amgen recently announced a $2.38 quarterly dividend, representing an annualized yield of 3.3%, with a payout ratio of 77.84% reflecting its financial commitment to shareholders.

Mutual of America Capital Management LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,610 shares of the medical research company's stock after selling 1,925 shares during the period. Mutual of America Capital Management LLC's holdings in Amgen were worth $19,506,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Capital International Investors increased its holdings in Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after buying an additional 3,495,503 shares during the last quarter. Capital World Investors boosted its position in shares of Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after acquiring an additional 6,029,058 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Amgen by 15.8% in the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after acquiring an additional 875,254 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Amgen by 15.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company's stock worth $1,336,647,000 after acquiring an additional 685,785 shares in the last quarter. Finally, Capital Research Global Investors raised its position in shares of Amgen by 20.7% during the 4th quarter. Capital Research Global Investors now owns 4,890,092 shares of the medical research company's stock worth $1,274,553,000 after acquiring an additional 839,686 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.76% of the company's stock.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $0.03 during mid-day trading on Thursday, hitting $284.70. 2,588,846 shares of the company were exchanged, compared to its average volume of 2,017,625. The stock has a 50 day simple moving average of $293.20 and a 200-day simple moving average of $292.48. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. The company has a quick ratio of 0.88, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The firm has a market cap of $153.09 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.97 EPS. On average, sell-side analysts forecast 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 given a dividend of $2.38 per share. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen's payout ratio is presently 77.84%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMGN. Morgan Stanley upped their price target on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday. Piper Sandler restated an "overweight" rating and issued a $328.00 target price on shares of Amgen in a report on Friday, June 27th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Mizuho boosted their price target on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Bank of America raised their price objective on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Amgen currently has a consensus rating of "Hold" and a consensus price target of $307.23.

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.