Norges Bank Takes $1.66 Billion Position in Amgen Inc. $AMGN

Norges Bank acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,958,689 shares of the medical research company’s stock, valued at approximately $1,663,726,000. Norges Bank owned about 1.11% of Amgen as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AMGN. Brighton Jones LLC raised its position in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Amgen by 74.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 12,896 shares of the medical research company’s stock worth $4,018,000 after buying an additional 5,500 shares during the period. XTX Topco Ltd boosted its holdings 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. Arkadios Wealth Advisors grew its position in Amgen by 217.4% during the first quarter. Arkadios Wealth Advisors now owns 12,134 shares of the medical research company’s stock valued at $3,780,000 after acquiring an additional 8,311 shares during the period. Finally, Mesirow Financial Investment Management Inc. raised its holdings in shares of Amgen by 0.9% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 14,214 shares of the medical research company’s stock worth $4,429,000 after purchasing an additional 127 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMGN. Wells Fargo & Company set a $400.00 price target on shares of Amgen in a research report on Tuesday. Morgan Stanley reduced their price target on Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. HSBC increased their price objective on shares of Amgen from $343.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. DZ Bank boosted their target price on shares of Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Amgen in a report on Tuesday. One 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $333.74.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the sale, the senior vice president directly owned 7,225 shares of the company’s stock, valued at $2,436,703.50. This trade represents a 30.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Rachna Khosla sold 890 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the sale, the senior vice president directly owned 7,082 shares in the company, valued at $2,381,251.68. This trade represents a 11.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,908 shares of company stock worth $3,674,966 in the last 90 days. Corporate insiders own 0.76% of the company’s stock.

Amgen Price Performance

AMGN opened at $344.57 on Friday. 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 50-day moving average price is $306.32 and its 200 day moving average price is $294.25. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $345.84. The firm has a market cap of $185.54 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45.

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

Amgen Dividend Announcement

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

Amgen Company 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.