Resona Asset Management Co. Ltd. Increases Position in Amgen Inc. $AMGN

Resona Asset Management Co. Ltd. lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 187,722 shares of the medical research company’s stock after buying an additional 7,641 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Amgen were worth $52,354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. OLD National Bancorp IN raised its holdings in shares of Amgen by 296.2% in the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after purchasing an additional 13,460 shares during the period. Trinity Legacy Partners LLC raised its holdings in shares of Amgen by 3.9% in the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after purchasing an additional 612 shares during the period. Founders Financial Alliance LLC raised its holdings in shares of Amgen by 2.7% in the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock worth $491,000 after purchasing an additional 42 shares during the period. Stephens Inc. AR raised its holdings in shares of Amgen by 14.2% in the 2nd quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock worth $26,729,000 after purchasing an additional 11,888 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Amgen by 2.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,397 shares of the medical research company’s stock worth $86,423,000 after purchasing an additional 7,308 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of a number of research reports. Morgan Stanley lowered their price target on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a report on Wednesday. Raymond James Financial initiated coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Piper Sandler reissued an “overweight” rating on shares of Amgen in a report on Wednesday. Citigroup boosted their target price on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Finally, Wells Fargo & Company boosted their target price on shares of Amgen from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average price target of $307.33.

Amgen Trading Up 7.8%

Amgen stock opened at $319.86 on Thursday. The stock has a market cap of $172.20 billion, a P/E ratio of 26.15, a PEG ratio of 2.61 and a beta of 0.45. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The firm’s fifty day moving average price is $288.69 and its 200-day moving average price is $287.99. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

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 the consensus estimate of $5.01 by $0.63. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a $2.38 dividend. The ex-dividend date is Friday, November 21st. This represents a $9.52 annualized dividend and a yield of 3.0%. Amgen’s payout ratio is 73.57%.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is currently owned by corporate 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.