Oregon Public Employees Retirement Fund Purchases 300 Shares of Amgen Inc. $AMGN

Oregon Public Employees Retirement Fund raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,418 shares of the medical research company’s stock after acquiring an additional 300 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Amgen were worth $12,960,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. OLD National Bancorp IN grew its stake in Amgen by 296.2% during the second 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. KPP Advisory Services LLC lifted its stake in Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after buying an additional 2,716 shares during the period. Advisor Resource Council bought a new position in shares of Amgen during the 1st quarter worth approximately $1,331,000. Trinity Legacy Partners LLC grew its position in shares of Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after buying an additional 612 shares during the period. Finally, DLK Investment Management LLC increased its stake in shares of Amgen by 7.3% in the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after acquiring an additional 1,387 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Bank of America increased their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Morgan Stanley increased their price objective on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Piper Sandler boosted their target price on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. UBS Group cut their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Finally, Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $309.42.

Amgen Stock Performance

Shares of Amgen stock opened at $290.13 on Monday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The business has a 50 day moving average price of $286.77 and a 200-day moving average price of $287.43. The company has a market cap of $156.19 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (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 analysts’ expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

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.