Resona Asset Management Co. Ltd. Purchases 13,390 Shares of Amgen Inc. (NASDAQ:AMGN)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Amgen Inc. by 8.0%, acquiring an additional 13,390 shares, bringing its total holdings to 180,081 shares valued at approximately $55.98 million.
• Amgen recently declared a quarterly dividend of $2.38 per share, representing an annual yield of 3.3% and a payout ratio of 77.84%.
• Amgen's EPS of $6.02 for the last quarter exceeded analyst expectations of $5.28, contributing to a year-over-year revenue growth of 9.4% to $9.18 billion.

Resona Asset Management Co. Ltd. increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,081 shares of the medical research company's stock after purchasing an additional 13,390 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Amgen were worth $55,978,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Rathbones Group PLC grew its position in shares of Amgen by 11.0% during the first quarter. Rathbones Group PLC now owns 12,959 shares of the medical research company's stock worth $4,037,000 after purchasing an additional 1,285 shares in the last quarter. Callan Family Office LLC grew its holdings in Amgen by 5.5% during the 1st quarter. Callan Family Office LLC now owns 14,709 shares of the medical research company's stock valued at $4,583,000 after buying an additional 764 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Amgen during the 1st quarter valued at approximately $68,000. Capital Planning Advisors LLC purchased a new position in Amgen during the 1st quarter valued at approximately $225,000. Finally, Trust Asset Management LLC grew its holdings in Amgen by 1.0% during the 1st quarter. Trust Asset Management LLC now owns 6,178 shares of the medical research company's stock valued at $1,925,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Trading Up 0.3%

AMGN traded up $0.96 during trading hours on Thursday, reaching $290.29. 1,921,089 shares of the company's stock traded hands, compared to its average volume of 2,880,806. The firm has a 50-day moving average price of $293.12 and a 200 day moving average price of $292.80. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The firm has a market capitalization of $156.28 billion, a PE ratio of 23.74, a PEG ratio of 2.46 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The company had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter in the previous year, the business earned $4.97 EPS. Amgen's revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company 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 of this dividend is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. Amgen's payout ratio is 77.84%.

Analyst Ratings Changes

AMGN has been the subject of several research analyst reports. Morgan Stanley raised their price target on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Piper Sandler restated an "overweight" rating and set a $328.00 price target on shares of Amgen in a report on Friday, June 27th. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Two 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 stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $303.76.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction 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. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.76% of the stock is currently 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.