M&G PLC Buys 19,708 Shares of Amgen Inc. $AMGN

M&G PLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 437,938 shares of the medical research company’s stock after acquiring an additional 19,708 shares during the quarter. M&G PLC owned about 0.08% of Amgen worth $122,185,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ironwood Investment Counsel LLC raised its holdings in Amgen by 159.4% in the second quarter. Ironwood Investment Counsel LLC now owns 13,827 shares of the medical research company’s stock worth $3,861,000 after buying an additional 8,497 shares during the last quarter. VeraBank N.A. increased its position in shares of Amgen by 8.2% during the second quarter. VeraBank N.A. now owns 4,679 shares of the medical research company’s stock valued at $1,306,000 after acquiring an additional 355 shares in the last quarter. STF Management LP raised its holdings in Amgen by 2.6% in the 2nd quarter. STF Management LP now owns 8,243 shares of the medical research company’s stock worth $2,302,000 after acquiring an additional 206 shares during the last quarter. Keynote Financial Services LLC lifted its position in Amgen by 12.3% in the 2nd quarter. Keynote Financial Services LLC now owns 5,420 shares of the medical research company’s stock valued at $1,513,000 after acquiring an additional 593 shares in the last quarter. Finally, 49 Wealth Management LLC lifted its position in Amgen by 6.7% in the 2nd quarter. 49 Wealth Management LLC now owns 1,100 shares of the medical research company’s stock valued at $307,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AMGN. Guggenheim lifted their target price on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Citigroup increased their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. DZ Bank lifted their target price on shares of Amgen from $335.00 to $364.00 in a research report on Monday. Finally, Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a report on Saturday. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $307.94.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is owned by corporate insiders.

Amgen Trading Up 4.6%

NASDAQ:AMGN opened at $338.45 on Wednesday. Amgen Inc. has a one year low of $253.30 and a one year high of $338.55. The business has a fifty day moving average price of $291.69 and a 200-day moving average price of $289.36. The firm has a market capitalization of $182.25 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.01 by $0.63. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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

Amgen Profile

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.