State of New Jersey Common Pension Fund D Acquires 1,025 Shares of Amgen Inc. $AMGN

State of New Jersey Common Pension Fund D increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 180,502 shares of the medical research company’s stock after acquiring an additional 1,025 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Amgen were worth $50,398,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Leelyn Smith LLC increased its position in Amgen by 2.5% during the second quarter. Leelyn Smith LLC now owns 9,230 shares of the medical research company’s stock worth $2,577,000 after acquiring an additional 229 shares during the period. Ranch Capital Advisors Inc. grew its stake in Amgen by 3.0% during the second quarter. Ranch Capital Advisors Inc. now owns 9,341 shares of the medical research company’s stock worth $2,608,000 after buying an additional 272 shares in the last quarter. PKO Investment Management Joint Stock Co grew its stake in Amgen by 310.0% during the second quarter. PKO Investment Management Joint Stock Co now owns 35,260 shares of the medical research company’s stock worth $9,845,000 after buying an additional 26,660 shares in the last quarter. Sage Mountain Advisors LLC grew its stake in Amgen by 11.8% during the second quarter. Sage Mountain Advisors LLC now owns 5,149 shares of the medical research company’s stock worth $1,438,000 after buying an additional 544 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Amgen by 2.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,702,010 shares of the medical research company’s stock worth $475,218,000 after buying an additional 34,637 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Down 0.4%

NASDAQ:AMGN opened at $291.76 on Friday. The firm’s 50 day simple moving average is $287.92 and its 200 day simple moving average is $287.31. 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 one year low of $253.30 and a one year high of $335.88. The company has a market cap of $157.07 billion, a PE ratio of 23.86, a P/E/G ratio of 2.53 and a beta of 0.49.

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

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Insider Buying and Selling

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 transaction of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMGN shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Amgen in a research note on Friday. Bank of America increased their price objective on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Morgan Stanley increased their price objective on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. UBS Group reduced their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Finally, Raymond James Financial assumed coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Amgen currently has an average rating of “Hold” and a consensus price target of $300.94.

Amgen Company 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.