Sumitomo Mitsui Trust Group Inc. Has $475.22 Million Holdings in Amgen Inc. $AMGN

Key Points

• Sumitomo Mitsui Trust Group Inc. has increased its holdings in Amgen Inc. by 2.1%, owning approximately 1.7 million shares valued at $475.22 million as of the latest SEC filing.
• Amgen reported strong quarterly earnings with an EPS of $6.02, exceeding analysts' estimates and showing a 9.4% year-over-year revenue increase to $9.18 billion.
• The company recently declared a quarterly dividend of $2.38, translating to a 3.3% dividend yield, with a payout ratio of 77.84%.

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,702,010 shares of the medical research company's stock after purchasing an additional 34,637 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.32% of Amgen worth $475,218,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AMGN. Nuveen LLC acquired a new position in shares of Amgen during the 1st quarter worth about $688,868,000. Federated Hermes Inc. grew its position in Amgen by 48.5% during the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company's stock worth $634,680,000 after acquiring an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Amgen by 128.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company's stock worth $332,017,000 after acquiring an additional 600,096 shares during the last quarter. WoodTrust Financial Corp grew its position in Amgen by 8,223.6% during the 2nd quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company's stock worth $166,307,000 after acquiring an additional 588,478 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Amgen during the 2nd quarter worth approximately $156,812,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $292.28 on Friday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. The stock's 50 day moving average price is $288.02 and its 200-day moving average price is $287.23. The company has a market capitalization of $157.35 billion, a PE ratio of 23.94, a PEG ratio of 2.62 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. Amgen's dividend payout ratio is presently 77.84%.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.76% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on AMGN. Citigroup increased their price target on Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Bank of America increased their price objective on Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research report on Friday, September 26th. Piper Sandler increased their price objective on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Morgan Stanley increased their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, UBS Group decreased their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Amgen has an average rating of "Hold" and a consensus price target of $300.94.

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.

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