Treasurer of the State of North Carolina Boosts Stake in Amgen Inc. $AMGN

by · The Markets Daily

Treasurer of the State of North Carolina raised its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 251,264 shares of the medical research company’s stock after acquiring an additional 5,735 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Amgen were worth $70,155,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AMGN. Wealth Preservation Advisors LLC bought a new stake in Amgen during the first quarter valued at about $25,000. CBIZ Investment Advisory Services LLC lifted its position in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after buying an additional 85 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen during the second quarter valued at about $27,000. Activest Wealth Management boosted its holdings in shares of Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after buying an additional 103 shares in the last quarter. Finally, Evelyn Partners Investment Management LLP purchased a new position in shares of Amgen in the 2nd quarter worth approximately $32,000. 76.50% of the stock is owned by institutional investors.

Insider Transactions at Amgen

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the sale, the executive vice president owned 41,923 shares in the company, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,908 shares of company stock worth $3,674,966 over the last quarter. 0.76% of the stock is currently owned by insiders.

Amgen Price Performance

NASDAQ AMGN opened at $317.38 on Friday. The company has a market cap of $170.90 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 2.85 and a beta of 0.45. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99. The stock’s fifty day moving average price is $315.73 and its 200 day moving average price is $298.33. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.38.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.63. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be issued a $2.52 dividend. This is a boost from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date of this dividend is Friday, February 13th. This represents a $10.08 annualized dividend and a dividend yield of 3.2%. Amgen’s payout ratio is presently 73.57%.

Analysts Set New Price Targets

A number of research firms recently commented on AMGN. Scotiabank started coverage on shares of Amgen in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 target price for the company. Erste Group Bank upgraded Amgen from a “hold” rating to a “buy” rating in a report on Friday, December 5th. DZ Bank raised their price objective on Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Amgen in a research report on Tuesday, November 25th. Finally, Wall Street Zen cut Amgen from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 7th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $334.10.

Check Out Our Latest Stock Analysis on AMGN

Amgen Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN – Free Report).