Amgen Inc. $AMGN Stock Holdings Increased by New York Life Investment Management LLC

New York Life Investment Management LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.9% during the 2nd quarter, Holdings Channel reports. The fund owned 73,641 shares of the medical research company’s stock after purchasing an additional 1,357 shares during the period. New York Life Investment Management LLC’s holdings in Amgen were worth $20,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. OLD National Bancorp IN raised its stake in shares of Amgen by 296.2% in the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after buying an additional 13,460 shares in the last quarter. Trinity Legacy Partners LLC raised its stake in shares of Amgen by 3.9% in the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after buying an additional 612 shares in the last quarter. Founders Financial Alliance LLC raised its stake in shares of Amgen by 2.7% in the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock worth $491,000 after buying an additional 42 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Amgen by 14.2% in the 2nd quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock worth $26,729,000 after buying an additional 11,888 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Amgen by 2.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,397 shares of the medical research company’s stock worth $86,423,000 after buying an additional 7,308 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

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

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $291.16 on Tuesday. 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 stock has a market capitalization of $156.75 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 2.61 and a beta of 0.49. The stock’s fifty day simple moving average is $287.89 and its 200 day simple moving average is $287.33. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same period in the previous year, the firm posted $4.97 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently commented on AMGN shares. Citigroup boosted their price objective on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Morgan Stanley boosted their price objective on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Bank of America lifted their target price on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Finally, Piper Sandler lifted their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $300.94.

Amgen Company 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.