Amgen Inc. $AMGN Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,295,184 shares of the medical research company’s stock after selling 9,206 shares during the quarter. California Public Employees Retirement System owned approximately 0.43% of Amgen worth $640,838,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in AMGN. Brighton Jones LLC raised its position 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 buying an additional 5,226 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in Amgen by 21.1% during the first quarter. Chicago Partners Investment Group LLC now owns 5,839 shares of the medical research company’s stock worth $1,819,000 after acquiring an additional 1,019 shares during the last quarter. Founders Financial Alliance LLC grew its stake in Amgen by 2.7% during the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after acquiring an additional 42 shares in the last quarter. Townsquare Capital LLC raised its holdings in Amgen by 27.3% in the 1st quarter. Townsquare Capital LLC now owns 40,954 shares of the medical research company’s stock valued at $12,759,000 after acquiring an additional 8,789 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Amgen by 13.9% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,712 shares of the medical research company’s stock worth $19,226,000 after purchasing an additional 7,536 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

AMGN stock opened at $329.89 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.38. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45. The stock has a market cap of $177.64 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 2.98 and a beta of 0.45. The business has a fifty day moving average of $313.41 and a two-hundred day moving average of $297.25.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations 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 business posted $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s dividend payout ratio (DPR) is 73.57%.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 3,139 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president directly owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. The trade was a 30.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the transaction, the senior vice president owned 7,082 shares in the company, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,908 shares of company stock worth $3,674,966 over the last three months. Insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Truist Financial began coverage on Amgen in a research report on Monday, November 24th. They issued a “hold” rating and a $318.00 price target for the company. Erste Group Bank raised Amgen from a “hold” rating to a “buy” rating in a research note on Friday. Daiwa Capital Markets raised their target price on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Piper Sandler lifted their price target on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target of $335.65.

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.