Amgen Inc. $AMGN Stake Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 32.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,227 shares of the medical research company’s stock after acquiring an additional 20,421 shares during the period. State of Alaska Department of Revenue’s holdings in Amgen were worth $35,081,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of AMGN. MW Advisory LLC bought a new stake in Amgen in the 2nd quarter worth approximately $1,054,000. Baird Financial Group Inc. grew its position in Amgen by 1.6% during the second quarter. Baird Financial Group Inc. now owns 339,825 shares of the medical research company’s stock valued at $123,057,000 after acquiring an additional 5,496 shares during the last quarter. Integrated Advisors Network LLC grew its position in Amgen by 50.5% during the first quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company’s stock valued at $6,664,000 after acquiring an additional 6,356 shares during the last quarter. Nilsine Partners LLC purchased a new position in shares of Amgen during the second quarter worth approximately $3,329,000. Finally, KBC Group NV raised its stake in shares of Amgen by 51.7% during the second quarter. KBC Group NV now owns 382,676 shares of the medical research company’s stock worth $138,574,000 after acquiring an additional 130,497 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 3.5%

AMGN stock traded up $15.04 during midday trading on Thursday, hitting $441.15. The company had a trading volume of 1,188,957 shares, compared to its average volume of 2,741,502. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. Amgen Inc. has a 52 week low of $288.00 and a 52 week high of $447.03. The stock’s 50 day moving average price is $414.53 and its 200 day moving average price is $373.75. The stock has a market cap of $238.50 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 3.02 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The firm had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same quarter in the prior year, the firm posted $6.02 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, equities research analysts expect that Amgen Inc. will post 22.94 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were issued a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, August 21st. Amgen’s dividend payout ratio is currently 62.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMGN shares. Weiss Ratings upgraded shares of Amgen from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Argus increased their target price on shares of Amgen from $375.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. UBS Group lifted their target price on shares of Amgen from $430.00 to $470.00 and gave the stock a “buy” rating in a research report on Friday, October 9th. Canaccord Genuity Group lifted their target price on shares of Amgen from $366.00 to $384.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Finally, Sanford C. Bernstein boosted their price target on shares of Amgen from $335.00 to $345.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $387.93.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the sale, the senior vice president directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 6,222 shares of company stock worth $2,540,926 over the last three months. Insiders own 0.85% of the company’s stock.

Amgen Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen’s portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.