Amgen Inc. $AMGN Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in Amgen by 6.1% in Q2, acquiring an additional 18,118 shares, bringing its total to 314,981 shares valued at approximately $87.9 million.
• Amgen recently reported earnings of $6.02 per share, exceeding estimates by $0.74, and announced a quarterly dividend of $2.38 per share, reflecting a 3.5% dividend yield.
• The stock is currently valued at $274.71 with a market cap of $147.89 billion, while institutional investors hold 76.50% of the shares.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,981 shares of the medical research company's stock after acquiring an additional 18,118 shares during the period. Amgen accounts for approximately 0.8% of Sumitomo Mitsui DS Asset Management Company Ltd's investment portfolio, making the stock its 29th biggest position. Sumitomo Mitsui DS Asset Management Company Ltd owned about 0.06% of Amgen worth $87,946,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new stake in shares of Amgen in the 1st quarter valued at approximately $25,000. Pinney & Scofield Inc. purchased a new stake in shares of Amgen in the 4th quarter valued at approximately $26,000. First Pacific Financial grew its stake in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after buying an additional 67 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in shares of Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after buying an additional 85 shares during the period. Finally, Activest Wealth Management grew its stake in shares of Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after buying an additional 103 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AMGN shares. Raymond James Financial started coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a "market perform" rating for the company. Piper Sandler increased their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Finally, Citigroup increased their price objective on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $304.43.

Amgen Stock Up 3.5%

NASDAQ:AMGN traded up $9.58 during midday trading on Friday, hitting $285.41. 8,729,346 shares of the company were exchanged, compared to its average volume of 1,985,005. The company has a fifty day simple moving average of $290.57 and a 200 day simple moving average of $290.48. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company has a market capitalization of $153.65 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.48 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results 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. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the business earned $4.97 EPS. Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated 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 of the company's stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.76% of the stock is currently owned by insiders.

About Amgen

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.