Voya Investment Management LLC Has $55.96 Million Stock Position in Amgen Inc. $AMGN

Voya Investment Management LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 58.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 198,284 shares of the medical research company’s stock after selling 275,398 shares during the period. Voya Investment Management LLC’s holdings in Amgen were worth $55,956,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AMGN. Laurel Wealth Advisors LLC lifted its holdings in shares of Amgen by 27,765.8% in the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock worth $1,870,880,000 after acquiring an additional 6,676,575 shares during the last quarter. Norges Bank bought a new position in Amgen in the second quarter valued at about $1,663,726,000. Vanguard Group Inc. increased its stake in shares of Amgen by 1.6% in the second quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after buying an additional 841,117 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Amgen by 5.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock worth $3,600,043,000 after buying an additional 687,735 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Amgen by 128.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock valued at $332,017,000 after acquiring an additional 600,096 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, December 12th. Scotiabank began coverage on Amgen in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 price target for the company. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 15th. Bank of America upped their target price on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Finally, HSBC restated a “buy” rating and set a $425.00 price target on shares of Amgen in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $332.85.

Amgen Stock Up 0.9%

Amgen stock opened at $327.38 on Friday. The company has a market capitalization of $176.29 billion, a PE ratio of 25.30, a PEG ratio of 2.93 and a beta of 0.45. Amgen Inc. has a 12-month low of $257.05 and a 12-month high of $346.38. The firm’s fifty day moving average is $319.32 and its 200 day moving average is $300.13. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.63. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. During the same quarter in the prior year, the business earned $5.58 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be paid a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. This is a positive change from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s payout ratio is 73.57%.

Insider Activity

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the sale, the executive vice president directly owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. The trade was a 14.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the transaction, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. This represents a 11.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,908 shares of company stock worth $3,674,966 over the last three months. 0.76% of the stock is currently owned by insiders.

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.