Arizona State Retirement System Has $54.17 Million Stock Holdings in Amgen Inc. $AMGN

Arizona State Retirement System increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% during the 2nd quarter, Holdings Channel reports. The fund owned 149,581 shares of the medical research company’s stock after buying an additional 2,047 shares during the quarter. Arizona State Retirement System’s holdings in Amgen were worth $54,166,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Rational Advisors Inc. increased its position in shares of Amgen by 13.7% during the second quarter. Rational Advisors Inc. now owns 199 shares of the medical research company’s stock worth $72,000 after acquiring an additional 24 shares in the last quarter. Beacon Financial Advisory LLC boosted its position in Amgen by 2.0% during the second quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company’s stock valued at $461,000 after purchasing an additional 25 shares during the last quarter. Legacy Financial Advisors Inc. boosted its holdings in shares of Amgen by 0.8% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company’s stock valued at $1,234,000 after buying an additional 26 shares during the last quarter. Roman Butler Fullerton & Co. lifted its stake in Amgen by 1.4% in the second quarter. Roman Butler Fullerton & Co. now owns 1,956 shares of the medical research company’s stock valued at $705,000 after acquiring an additional 27 shares during the last quarter. Finally, High Note Wealth LLC grew its holdings in Amgen by 5.8% during the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock worth $166,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of several research reports. Piper Sandler upped their price objective on shares of Amgen from $427.00 to $457.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Scotiabank upped their target price on Amgen from $385.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Guggenheim upped their price target on shares of Amgen from $343.00 to $388.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. The Goldman Sachs Group set a $389.00 price objective on Amgen in a research note on Friday, June 5th. Finally, Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $381.68.

Amgen Trading Down 10.1%

Shares of NASDAQ:AMGN traded down $44.06 during midday trading on Tuesday, reaching $393.17. The company’s stock had a trading volume of 6,824,446 shares, compared to its average volume of 2,713,826. The firm has a market capitalization of $212.56 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 3.15 and a beta of 0.43. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $447.03. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. The firm has a 50 day moving average price of $398.92 and a two-hundred day moving average price of $367.59.

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 the consensus estimate of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same quarter in the previous year, the business posted $6.02 EPS. Amgen’s revenue for the quarter 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, analysts forecast that Amgen Inc. will post 22.97 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be issued a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, August 21st. Amgen’s dividend payout ratio (DPR) is currently 62.65%.

Insider Activity

In other news, SVP Nancy Grygiel sold 2,970 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction 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 $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rachna Khosla sold 1,252 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the sale, the senior vice president owned 6,404 shares in the company, valued at $2,666,817.72. This represents a 16.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is currently owned by insiders.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported that IMDELLTRA (tarlatamab) combined with AstraZeneca’s Imfinzi significantly improved overall survival in a Phase 3 trial for first-line extensive-stage small-cell lung cancer. The study also met progression-free survival and objective response-rate endpoints, strengthening the commercial outlook for the oncology franchise. Amgen IMDELLTRA and IMFINZI Phase 3 results
• Positive Sentiment: William Blair maintained a Buy rating, citing the Phase 3 success for IMDELLTRA as support for Amgen’s growth prospects. UBS also said olpasiran could still demonstrate cardiovascular-risk reduction, although the evidence bar is now higher. William Blair maintains Buy rating on Amgen
• Neutral Sentiment: Cantor Fitzgerald reaffirmed its Neutral rating and set a $400 price target, indicating limited near-term upside based on the current valuation. Amgen analyst price target
• Negative Sentiment: Novartis’ Phase 3 pelacarsen trial reduced Lp(a) cholesterol but failed to lower cardiovascular events. The result undermined confidence in the broader Lp(a) drug class and raised concerns that Amgen’s 7,297-patient olpasiran study may face the same efficacy challenge. Because olpasiran is an important pipeline asset, investors reacted more strongly to the read-through than to Amgen’s favorable oncology update. Novartis cholesterol drug setback
• Negative Sentiment: BMO Capital Markets downgraded Amgen to Market Perform from Outperform, citing a more balanced risk-reward profile and limited near-term upside. Sector-wide selling and broader market pressure added to the decline. BMO downgrades Amgen

About Amgen

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.