Sumitomo Mitsui Financial Group Inc. Purchases 8,679 Shares of Amgen Inc. $AMGN

Sumitomo Mitsui Financial Group Inc. raised its position in Amgen Inc. (NASDAQ:AMGN) by 14.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,322 shares of the medical research company’s stock after buying an additional 8,679 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Amgen were worth $19,635,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMGN. Brighton Jones LLC lifted its stake in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Amgen during the 1st quarter worth $147,000. Geneos Wealth Management Inc. boosted its stake in Amgen by 74.4% in the first quarter. Geneos Wealth Management Inc. now owns 12,896 shares of the medical research company’s stock valued at $4,018,000 after buying an additional 5,500 shares in the last quarter. XTX Topco Ltd grew its position in Amgen by 118.6% in the first quarter. XTX Topco Ltd now owns 5,127 shares of the medical research company’s stock valued at $1,597,000 after acquiring an additional 2,782 shares during the last quarter. Finally, Tredje AP fonden lifted its holdings in shares of Amgen by 27.1% in the first quarter. Tredje AP fonden now owns 127,707 shares of the medical research company’s stock worth $39,787,000 after acquiring an additional 27,214 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $344.57 on Thursday. 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 company’s fifty day simple moving average is $304.95 and its 200 day simple moving average is $293.90. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $345.84. The firm has a market cap of $185.54 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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 company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen’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 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s dividend payout ratio is 73.57%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMGN shares. Bank of America boosted 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. Scotiabank started coverage on Amgen in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price objective on the stock. Truist Financial began coverage on Amgen in a report on Monday. They issued a “hold” rating and a $318.00 target price for the company. Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Piper Sandler upped their price objective on Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $333.74.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction dated 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 directly owned 7,225 shares in the company, valued at $2,436,703.50. This trade represents a 30.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the sale, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. This represents a 14.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 10,908 shares of company stock valued at $3,674,966. Company insiders own 0.76% of the company’s stock.

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.