New York State Common Retirement Fund Cuts Stock Holdings in Amgen Inc. $AMGN

New York State Common Retirement Fund reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 625,139 shares of the medical research company’s stock after selling 39,789 shares during the period. New York State Common Retirement Fund’s holdings in Amgen were worth $176,414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Vanguard Group Inc. boosted its stake in shares of Amgen by 1.6% in the 2nd 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. State Street Corp increased its stake in shares of Amgen by 0.6% during the second quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock worth $8,196,775,000 after buying an additional 177,035 shares during the period. Geode Capital Management LLC raised its holdings in Amgen by 2.3% in the second quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock valued at $3,619,489,000 after acquiring an additional 291,271 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Amgen by 5.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock valued at $3,600,043,000 after acquiring an additional 687,735 shares in the last quarter. Finally, Laurel Wealth Advisors LLC lifted its stake in 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. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Down 2.6%

NASDAQ:AMGN opened at $342.22 on Thursday. The company has a market capitalization of $184.28 billion, a PE ratio of 26.45, a P/E/G ratio of 3.11 and a beta of 0.45. Amgen Inc. has a 52-week low of $261.43 and a 52-week high of $353.25. The stock’s 50 day moving average price is $332.38 and its 200 day moving average price is $308.67. 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 posted 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. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current 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 given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, February 13th. This is an increase from Amgen’s previous quarterly dividend of $2.38. Amgen’s payout ratio is 73.57%.

Insider Buying and Selling at Amgen

In related news, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the completion of the transaction, the senior vice president owned 7,225 shares in the company, valued at $2,436,703.50. This trade represents a 30.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 10,908 shares of company stock worth $3,674,966. 0.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of analyst reports. Argus raised their price objective on shares of Amgen from $310.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, December 30th. Erste Group Bank upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. Truist Financial lifted their price target on Amgen from $318.00 to $319.00 and gave the stock a “hold” rating in a report on Thursday, January 8th. UBS Group increased their price objective on Amgen from $380.00 to $390.00 and gave the company a “buy” rating in a report on Monday. Finally, Daiwa Capital Markets upped their price target on Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $339.71.

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.