KLP Kapitalforvaltning AS Has $53.67 Million Stake in Amgen Inc. $AMGN

KLP Kapitalforvaltning AS lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 192,216 shares of the medical research company’s stock after purchasing an additional 8,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Amgen were worth $53,669,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after acquiring an additional 5,226 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Amgen by 4.5% during the first quarter. Sivia Capital Partners LLC now owns 1,072 shares of the medical research company’s stock worth $334,000 after purchasing an additional 46 shares during the period. Charter Oak Capital Management LLC acquired a new stake in shares of Amgen in the first quarter valued at approximately $223,000. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Amgen by 1.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 4,442 shares of the medical research company’s stock valued at $1,384,000 after buying an additional 60 shares during the period. Finally, Miracle Mile Advisors LLC boosted its stake in shares of Amgen by 46.1% in the first quarter. Miracle Mile Advisors LLC now owns 8,791 shares of the medical research company’s stock valued at $2,739,000 after buying an additional 2,775 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on AMGN shares. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday. Weiss Ratings restated a “hold (c+)” rating on shares of Amgen in a research report on Saturday, September 27th. Piper Sandler upped their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Raymond James Financial initiated coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $309.42.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is owned by corporate insiders.

Amgen Stock Performance

NASDAQ:AMGN opened at $294.12 on Tuesday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. 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’s 50-day simple moving average is $287.20 and its 200 day simple moving average is $287.83. The firm has a market capitalization of $158.34 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 2.59 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued 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. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the previous year, the firm earned $4.97 earnings per share. The business’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. On average, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen’s dividend payout ratio is presently 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.