Amgen Inc. $AMGN Shares Bought by UniSuper Management Pty Ltd

Key Points

• UniSuper Management Pty Ltd increased its stake in Amgen Inc. by 1.1% in Q1, bringing its total holdings to 89,784 shares valued at approximately $27.97 million.
• Amgen's recent earnings report exceeded expectations, with an EPS of $6.02 and revenue of $9.18 billion, reflecting a 9.4% year-over-year growth.
• The company declared a quarterly dividend of $2.38 per share, translating to an annual yield of 3.4%, with a declared payout ratio of 77.84%.

UniSuper Management Pty Ltd raised its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,784 shares of the medical research company's stock after acquiring an additional 986 shares during the quarter. UniSuper Management Pty Ltd's holdings in Amgen were worth $27,972,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Rise Advisors LLC lifted its position in shares of Amgen by 113.1% during the first quarter. Rise Advisors LLC now owns 1,089 shares of the medical research company's stock worth $339,000 after purchasing an additional 578 shares during the last quarter. Plancorp LLC raised its stake in Amgen by 1.4% during the first quarter. Plancorp LLC now owns 3,072 shares of the medical research company's stock valued at $957,000 after buying an additional 43 shares in the last quarter. New England Asset Management Inc. lifted its holdings in Amgen by 10.1% during the 1st quarter. New England Asset Management Inc. now owns 21,295 shares of the medical research company's stock worth $6,634,000 after buying an additional 1,950 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in Amgen by 9.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 133,412 shares of the medical research company's stock worth $41,565,000 after buying an additional 11,694 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Amgen by 9.7% in the 1st quarter. NewEdge Advisors LLC now owns 75,784 shares of the medical research company's stock worth $23,611,000 after acquiring an additional 6,685 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on AMGN. Bank of America upped their price target on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research report on Wednesday, July 23rd. William Blair restated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. 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 note on Monday, August 25th. Finally, Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $304.43.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $1.46 during midday trading on Wednesday, hitting $278.51. 2,120,543 shares of the company's stock were exchanged, compared to its average volume of 2,781,943. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The stock's 50 day moving average price is $293.65 and its 200-day moving average price is $292.31. The firm has a market cap of $149.94 billion, a P/E ratio of 22.77, a PEG ratio of 2.43 and a beta of 0.49. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its 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. The firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current 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 $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Friday, August 22nd. Amgen's dividend payout ratio is 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at $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 is available at this hyperlink. 0.69% of the stock is owned by company 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.