Voya Investment Management LLC Buys 133,777 Shares of Amgen Inc. $AMGN

Key Points

• Voya Investment Management LLC increased its holdings in Amgen Inc. by 30.3% in the first quarter, acquiring an additional 133,777 shares, leading to a total of 575,980 shares valued at approximately $179 million.
• In related movements, multiple institutional investors, including KPP Advisory Services, increased their stakes in Amgen during the same quarter, with institutional ownership now at 76.50%.
• Amgen recently announced a quarterly dividend of $2.38 per share, which equates to an annualized rate of $9.52 and a yield of 3.4%.

Voya Investment Management LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 30.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 575,980 shares of the medical research company's stock after buying an additional 133,777 shares during the quarter. Voya Investment Management LLC owned approximately 0.11% of Amgen worth $179,446,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. KPP Advisory Services LLC boosted its position in shares of Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock valued at $1,817,000 after purchasing an additional 2,716 shares in the last quarter. Advisor Resource Council bought a new stake in shares of Amgen during the first quarter worth about $1,331,000. Trinity Legacy Partners LLC boosted its stake in Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock valued at $5,026,000 after purchasing an additional 612 shares during the last quarter. DLK Investment Management LLC grew its holdings in Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after buying an additional 1,387 shares in the last quarter. Finally, Founders Financial Alliance LLC raised its holdings in shares of Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock valued at $491,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMGN. Citigroup lifted their price target on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Bank of America boosted their price target on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Morgan Stanley boosted their target price on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Finally, UBS Group decreased their price target on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Amgen has a consensus rating of "Hold" and an average target price of $304.43.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm'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 completion of the transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is owned by corporate insiders.

Amgen Stock Performance

AMGN traded down $6.34 on Friday, hitting $276.39. The company's stock had a trading volume of 2,143,109 shares, compared to its average volume of 1,853,902. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. The firm has a market cap of $148.80 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 2.40 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. The company's 50 day simple moving average is $292.54 and its 200-day simple moving average is $291.56.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the company posted $4.97 EPS. The firm'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. Analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's dividend payout ratio is 77.84%.

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.