National Pension Service increased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,163,689 shares of the medical research company's stock after acquiring an additional 70,126 shares during the quarter. National Pension Service owned about 0.22% of Amgen worth $362,547,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. First Pacific Financial lifted its position in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after acquiring an additional 67 shares in the last quarter. Pinney & Scofield Inc. bought a new stake in shares of Amgen during the 4th quarter valued at $26,000. Global Wealth Strategies & Associates lifted its holdings in Amgen by 1,388.9% during the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after purchasing an additional 125 shares in the last quarter. Heck Capital Advisors LLC bought a new position in Amgen in the 4th quarter worth about $36,000. Finally, South Plains Financial Inc. purchased a new position in Amgen during the 4th quarter valued at about $37,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction 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 sale, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several brokerages have recently weighed in on AMGN. Citigroup upped their price target on Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Piper Sandler reiterated an "overweight" rating and set a $328.00 price target on shares of Amgen in a research report on Friday, June 27th. UBS Group decreased their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $303.76.
Read Our Latest Research Report on Amgen
Amgen Trading Up 2.1%
AMGN stock traded up $6.18 during midday trading on Friday, hitting $296.47. The company had a trading volume of 2,167,753 shares, compared to its average volume of 2,876,277. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $339.17. The stock's 50 day moving average price is $293.18 and its 200 day moving average price is $292.85. The stock has a market cap of $159.61 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 2.49 and a beta of 0.49.
Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results 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. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. During the same period in the previous year, the firm earned $4.97 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.
Amgen Announces Dividend
The company also recently declared 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. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio is presently 77.84%.
Amgen Company Profile
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Free Report)
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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