Amgen Inc. $AMGN Shares Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,641 shares of the medical research company’s stock after purchasing an additional 1,357 shares during the quarter. New York Life Investment Management LLC’s holdings in Amgen were worth $20,561,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AMGN. Nuveen LLC acquired a new position in shares of Amgen in the 1st quarter worth approximately $688,868,000. Federated Hermes Inc. grew its position in shares of Amgen by 48.5% in the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock worth $634,680,000 after acquiring an additional 665,555 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Amgen by 128.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after acquiring an additional 600,096 shares in the last quarter. WoodTrust Financial Corp grew its position in shares of Amgen by 8,223.6% in the 2nd quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock worth $166,307,000 after acquiring an additional 588,478 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Amgen in the 2nd quarter worth approximately $156,812,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $291.16 on Tuesday. The firm’s 50 day moving average is $287.89 and its two-hundred day moving average is $287.33. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The firm has a market capitalization of $156.75 billion, a P/E ratio of 23.81, a PEG ratio of 2.61 and a beta of 0.49. 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 announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AMGN shares. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Bank of America lifted their target price on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a research report on Monday. UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Finally, Piper Sandler raised their price target on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $300.94.

Insiders Place Their Bets

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

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.