Amgen Inc. $AMGN Stock Position Increased by Ethic Inc.

Ethic Inc. increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,863 shares of the medical research company’s stock after buying an additional 1,679 shares during the period. Ethic Inc.’s holdings in Amgen were worth $24,390,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Amgen by 4.8% in the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock worth $17,874,974,000 after acquiring an additional 2,261,544 shares during the period. State Street Corp grew its position in shares of Amgen by 38.2% in the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock valued at $15,283,363,000 after purchasing an additional 11,656,755 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Amgen by 12.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company’s stock valued at $1,952,156,000 after purchasing an additional 605,928 shares during the period. Bank of America Corp DE bought a new stake in shares of Amgen during the 2nd quarter valued at $1,831,903,000. Finally, Amundi raised its stake in shares of Amgen by 15.2% during the 2nd quarter. Amundi now owns 3,890,189 shares of the medical research company’s stock valued at $1,408,715,000 after purchasing an additional 512,883 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AMGN shares. Oppenheimer reissued an “outperform” rating on shares of Amgen in a report on Friday, October 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $410.00 target price on shares of Amgen in a report on Wednesday, September 23rd. Truist Financial upped their price target on Amgen from $380.00 to $398.00 and gave the company a “hold” rating in a research report on Wednesday. Cantor Fitzgerald upped their price target on Amgen from $440.00 to $465.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Leerink Partners increased their price target on shares of Amgen from $395.00 to $464.00 and gave the stock a “market perform” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $420.80.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported quarterly earnings and revenue above expectations, with revenue up 8.5% year over year. Its earnings-call discussion also emphasized growth and pipeline momentum, supporting the case for continued expansion. Amgen Earnings Call Highlights Growth, Pipeline Momentum
• Positive Sentiment: A large real-world study found Repatha lowered heart-attack risk by 20% versus ezetimibe in patients with heart disease. The findings could strengthen the drug’s clinical and commercial position. Repatha real-world study
• Positive Sentiment: Scotiabank reiterated a Buy view and set a $530 price target; UBS also maintains a Buy rating with a $530 target. Separately, ETFs bought a net $79.8 million of AMGN shares in Wednesday’s session. Scotiabank price target ETF holdings
• Neutral Sentiment: Analyst opinions remain divided: Leerink Partners and Guggenheim have Hold/neutral ratings, while Scotiabank and UBS are more optimistic. The differing views suggest debate about how much of Amgen’s recent gains are already reflected in its valuation. Leerink Partners rating
• Negative Sentiment: Freedom Broker downgraded Amgen to Hold, adding to the cautious analyst commentary and potentially tempering enthusiasm after the recent rally. Freedom Broker downgrade

Amgen Stock Up 0.0%

Shares of NASDAQ:AMGN opened at $460.42 on Friday. Amgen Inc. has a 52-week low of $312.39 and a 52-week high of $483.99. The firm has a fifty day moving average of $422.43 and a 200 day moving average of $378.19. The firm has a market capitalization of $249.05 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 3.21 and a beta of 0.43. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.13 and a current ratio of 1.48.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, November 3rd. The medical research company reported $6.45 EPS for the quarter, beating analysts’ consensus estimates of $5.79 by $0.66. Amgen had a return on equity of 114.99% and a net margin of 24.14%. The business had revenue of $10.37 billion for the quarter, compared to analysts’ expectations of $10.07 billion. During the same quarter in the prior year, the firm earned $5.64 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, research analysts anticipate that Amgen Inc. will post 23.33 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, November 20th. Amgen’s dividend payout ratio is presently 58.47%.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the transaction, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.85% of the company’s stock.

Amgen Profile

Amgen is a biotechnology company that discovers, develops, manufactures and commercializes medicines for serious illnesses. Its research and product portfolio span areas including cancer, cardiovascular disease, inflammation, bone health and rare diseases.

The company’s medicines include Enbrel, Prolia, Xgeva and Repatha. Amgen serves patients and healthcare providers in the United States and markets its products internationally.

Founded in 1980 and headquartered in Thousand Oaks, California, Amgen is led by Robert A.