AMF Tjanstepension AB Buys 74,472 Shares of Amgen Inc. $AMGN

AMF Tjanstepension AB increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 91.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,117 shares of the medical research company’s stock after buying an additional 74,472 shares during the period. AMF Tjanstepension AB’s holdings in Amgen were worth $43,615,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brighton Jones LLC grew its holdings in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after acquiring an additional 5,226 shares in the last quarter. Apella Capital LLC lifted its position in shares of Amgen by 3.7% during the first quarter. Apella Capital LLC now owns 1,333 shares of the medical research company’s stock worth $388,000 after acquiring an additional 48 shares in the last quarter. Matrix Trust Co grew its holdings in Amgen by 11.8% during the 1st quarter. Matrix Trust Co now owns 513 shares of the medical research company’s stock valued at $160,000 after buying an additional 54 shares in the last quarter. Gilman Hill Asset Management LLC bought a new stake in Amgen during the 1st quarter worth approximately $233,000. Finally, Charles Schwab Trust Co bought a new stake in Amgen during the first quarter valued at $359,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 0.2%

Shares of AMGN opened at $297.89 on Friday. The firm has a market capitalization of $160.37 billion, a P/E ratio of 24.36, a P/E/G ratio of 2.58 and a beta of 0.49. The firm has a fifty day moving average price of $287.34 and a 200-day moving average price of $288.36. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio is 77.84%.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMGN. Piper Sandler upped their price objective on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Morgan Stanley increased their price objective on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Bank of America upped their price objective on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amgen in a research note on Saturday, September 27th. Seven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $309.70.

About Amgen

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.