State of Alaska Department of Revenue Sells 3,034 Shares of Amgen Inc. $AMGN

State of Alaska Department of Revenue cut its stake in Amgen Inc. (NASDAQ:AMGN) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,975 shares of the medical research company’s stock after selling 3,034 shares during the quarter. State of Alaska Department of Revenue’s holdings in Amgen were worth $18,617,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Legacy Investment Solutions LLC bought a new stake in shares of Amgen in the second quarter valued at $27,000. CBIZ Investment Advisory Services LLC grew its position in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 85 shares in the last quarter. Evelyn Partners Investment Management LLP bought a new position in Amgen in the 2nd quarter worth about $32,000. Howard Hughes Medical Institute bought a new stake in Amgen during the second quarter valued at approximately $32,000. Finally, Quaker Wealth Management LLC lifted its holdings in shares of Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after acquiring an additional 240 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AMGN. Citigroup boosted their price target on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Bank of America boosted their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. The Goldman Sachs Group restated a “buy” rating on shares of Amgen in a research note on Tuesday, November 25th. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 15th. Finally, Argus lifted their target price on shares of Amgen from $310.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, December 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $338.55.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 890 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the sale, the senior vice president directly owned 7,082 shares of the company’s stock, valued at $2,381,251.68. The trade was a 11.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the sale, the senior vice president directly owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This trade represents a 30.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 10,908 shares of company stock worth $3,674,966. 0.76% of the stock is currently owned by company insiders.

Amgen Stock Down 3.4%

Shares of AMGN stock opened at $330.11 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45. The stock has a market cap of $177.76 billion, a P/E ratio of 25.51, a P/E/G ratio of 3.11 and a beta of 0.45. Amgen Inc. has a 12 month low of $260.55 and a 12 month high of $346.38. The company has a 50 day simple moving average of $329.19 and a two-hundred day simple moving average of $303.93.

Amgen (NASDAQ:AMGN) last posted 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 analyst estimates of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be given a $2.52 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, February 13th. Amgen’s dividend payout ratio (DPR) is 73.57%.

About Amgen

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.