Louisiana State Employees Retirement System Sells 400 Shares of Amgen Inc. $AMGN

Louisiana State Employees Retirement System lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,700 shares of the medical research company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Amgen were worth $18,903,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Amgen by 0.3% in the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after acquiring an additional 148,658 shares during the last quarter. Royal Bank of Canada grew its position in Amgen by 6.0% in the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock valued at $1,521,339,000 after acquiring an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Amgen by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock valued at $1,387,695,000 after acquiring an additional 243,306 shares during the last quarter. Deutsche Bank AG grew its position in Amgen by 1.6% in the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock valued at $1,017,525,000 after acquiring an additional 52,734 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Amgen by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock valued at $940,989,000 after acquiring an additional 22,820 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $295.54 on Wednesday. The stock’s 50 day moving average is $287.04 and its 200 day moving average is $287.88. 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 firm has a market cap of $159.11 billion, a P/E ratio of 24.17, a P/E/G ratio of 2.55 and a beta of 0.49. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

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. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s payout ratio is currently 77.84%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMGN. Raymond James Financial began coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Citigroup boosted their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Morgan Stanley boosted their price target on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $309.42.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

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.