Bessemer Group Inc. Has $7.16 Million Stake in Amgen Inc. $AMGN

Bessemer Group Inc. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,644 shares of the medical research company’s stock after purchasing an additional 1,200 shares during the quarter. Bessemer Group Inc.’s holdings in Amgen were worth $7,160,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC increased its holdings in Amgen by 4.1% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 92,123 shares of the medical research company’s stock worth $25,722,000 after purchasing an additional 3,633 shares in the last quarter. Solstein Capital LLC increased its position in Amgen by 210.0% in the 2nd quarter. Solstein Capital LLC now owns 186 shares of the medical research company’s stock valued at $52,000 after acquiring an additional 126 shares during the period. Envestnet Asset Management Inc. increased its holdings in Amgen by 5.9% in the second quarter. Envestnet Asset Management Inc. now owns 1,502,715 shares of the medical research company’s stock valued at $419,572,000 after purchasing an additional 83,110 shares during the period. Resonant Capital Advisors LLC increased its holdings in Amgen by 2.4% in the second quarter. Resonant Capital Advisors LLC now owns 13,164 shares of the medical research company’s stock valued at $3,676,000 after purchasing an additional 313 shares during the period. Finally, New Hampshire Trust increased its holdings in Amgen by 1.9% in the second quarter. New Hampshire Trust now owns 4,111 shares of the medical research company’s stock valued at $1,148,000 after purchasing an additional 75 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.69% of the company’s stock.

Amgen Trading Up 0.3%

NASDAQ:AMGN opened at $292.09 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock has a market capitalization of $157.25 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 2.60 and a beta of 0.49. The firm has a fifty day simple moving average of $287.82 and a two-hundred day simple moving average of $287.41. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is 77.84%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMGN. Morgan Stanley increased their price target on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Piper Sandler increased their target price on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. Wall Street Zen downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Finally, Citigroup increased their price objective on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $300.94.

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.