Oregon Public Employees Retirement Fund Buys 15,172 Shares of Amgen Inc. $AMGN

by · The Cerbat Gem

Oregon Public Employees Retirement Fund grew its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 32.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 61,590 shares of the medical research company’s stock after acquiring an additional 15,172 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Amgen were worth $17,381,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. OLD National Bancorp IN raised its position in 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. Atlantic Union Bankshares Corp boosted its position in Amgen by 165.0% during the second quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock valued at $2,972,000 after buying an additional 6,627 shares during the period. D.A. Davidson & CO. grew its stake in shares of Amgen by 2.6% during the third quarter. D.A. Davidson & CO. now owns 243,054 shares of the medical research company’s stock valued at $68,590,000 after buying an additional 6,222 shares during the last quarter. Davis Capital Management bought a new position in shares of Amgen during the third quarter valued at about $1,841,000. Finally, L2 Asset Management LLC increased its holdings in shares of Amgen by 50.8% in the second quarter. L2 Asset Management LLC now owns 9,837 shares of the medical research company’s stock worth $2,747,000 after buying an additional 3,314 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of several analyst reports. Scotiabank initiated coverage on Amgen in a report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 target price for the company. Argus boosted their price objective on Amgen from $310.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, December 30th. BMO Capital Markets increased their price objective on Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. 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, Truist Financial upped their price target on shares of Amgen from $318.00 to $319.00 and gave the company a “hold” rating in a report on Thursday. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus price target of $338.55.

Check Out Our Latest Stock Analysis on AMGN

Insider Activity at Amgen

In related news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the transaction, the executive vice president directly owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of the firm’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 owned 7,225 shares of the company’s stock, valued at $2,436,703.50. This trade 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 90 days. 0.76% of the stock is owned by company insiders.

Amgen Price Performance

AMGN opened at $330.11 on Friday. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The stock has a market capitalization of $177.76 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.11 and a beta of 0.45. The stock’s 50 day moving average price is $329.19 and its 200-day moving average price is $303.93. Amgen Inc. has a 52-week low of $260.55 and a 52-week high of $346.38.

Amgen (NASDAQ:AMGN – Get Free Report) last released 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 analysts’ expectations of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be paid a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. Amgen’s payout ratio is presently 73.57%.

Amgen Profile

(Free Report)

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.

Featured Stories