OFI Invest Asset Management Acquires 58 Shares of Amgen Inc. $AMGN

OFI Invest Asset Management raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% in the second quarter, HoldingsChannel reports. The fund owned 5,873 shares of the medical research company’s stock after acquiring an additional 58 shares during the period. OFI Invest Asset Management’s holdings in Amgen were worth $1,640,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Amgen by 13.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 72,264 shares of the medical research company’s stock valued at $20,194,000 after buying an additional 8,411 shares during the period. Sather Financial Group Inc raised its position in Amgen by 35.1% during the second quarter. Sather Financial Group Inc now owns 6,657 shares of the medical research company’s stock valued at $1,859,000 after purchasing an additional 1,730 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in Amgen by 18.6% during the second quarter. Concurrent Investment Advisors LLC now owns 25,465 shares of the medical research company’s stock valued at $7,110,000 after purchasing an additional 3,985 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its position in Amgen by 13.2% during the second quarter. Cerro Pacific Wealth Advisors LLC now owns 5,360 shares of the medical research company’s stock valued at $1,497,000 after purchasing an additional 623 shares in the last quarter. Finally, Johnson Investment Counsel Inc. lifted its stake in shares of Amgen by 2.2% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 26,244 shares of the medical research company’s stock valued at $7,328,000 after acquiring an additional 555 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

AMGN stock opened at $290.13 on Friday. The stock has a market capitalization of $156.19 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49. The company’s 50-day moving average is $286.77 and its 200-day moving average is $287.55. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88.

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

Amgen Dividend Announcement

The firm 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 yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen’s payout ratio is currently 77.84%.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. Morgan Stanley increased their price target on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. UBS Group decreased their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Raymond James Financial assumed coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus target price of $309.42.

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.