Sumitomo Mitsui Financial Group Inc. Acquires 8,679 Shares of Amgen Inc. $AMGN

Sumitomo Mitsui Financial Group Inc. grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 14.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,322 shares of the medical research company’s stock after acquiring an additional 8,679 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Amgen were worth $19,635,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Mayfair Advisory Group LLC lifted its holdings in shares of Amgen by 33.4% during the 2nd quarter. Mayfair Advisory Group LLC now owns 1,098 shares of the medical research company’s stock valued at $316,000 after purchasing an additional 275 shares in the last quarter. Elevation Point Wealth Partners LLC raised its holdings in Amgen by 15.2% during the 2nd quarter. Elevation Point Wealth Partners LLC now owns 857 shares of the medical research company’s stock worth $239,000 after buying an additional 113 shares during the period. GM Advisory Group LLC raised its holdings in Amgen by 115.1% during the 2nd quarter. GM Advisory Group LLC now owns 2,657 shares of the medical research company’s stock worth $742,000 after buying an additional 1,422 shares during the period. Quadrant Capital Group LLC lifted its stake in Amgen by 11.6% in the second quarter. Quadrant Capital Group LLC now owns 15,133 shares of the medical research company’s stock valued at $4,225,000 after buying an additional 1,569 shares in the last quarter. Finally, Vinva Investment Management Ltd boosted its holdings in shares of Amgen by 33.0% in the second quarter. Vinva Investment Management Ltd now owns 36,950 shares of the medical research company’s stock valued at $10,240,000 after buying an additional 9,178 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on AMGN. Morgan Stanley dropped their price target on Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Cantor Fitzgerald boosted their price objective on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Raymond James Financial initiated coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Scotiabank began coverage on Amgen in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 price objective for the company. Finally, Piper Sandler increased their price target on Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average target price of $333.74.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the sale, the senior vice president directly owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,908 shares of company stock worth $3,674,966 over the last quarter. Company insiders own 0.76% of the company’s stock.

Amgen Stock Up 1.0%

AMGN opened at $344.57 on Thursday. 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 stock’s fifty day simple moving average is $304.95 and its 200 day simple moving average is $293.90. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $345.84. The stock has a market cap of $185.54 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating the consensus estimate of $5.01 by $0.63. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be given a dividend of $2.38 per share. The ex-dividend date is Friday, November 21st. This represents a $9.52 annualized dividend and a yield of 2.8%. Amgen’s dividend payout ratio (DPR) is 73.57%.

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.