Panagora Asset Management Inc. Purchases 385,517 Shares of Amgen Inc. $AMGN

Panagora Asset Management Inc. increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 367.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 490,457 shares of the medical research company’s stock after buying an additional 385,517 shares during the period. Panagora Asset Management Inc.’s holdings in Amgen were worth $136,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Brighton Jones LLC grew its position in Amgen by 23.5% during 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 period. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Amgen by 48.9% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,254 shares of the medical research company’s stock valued at $391,000 after acquiring an additional 412 shares during the last quarter. Banco Santander S.A. grew its position in shares of Amgen by 235.3% during the 1st quarter. Banco Santander S.A. now owns 8,720 shares of the medical research company’s stock valued at $2,717,000 after acquiring an additional 6,119 shares during the period. DCF Advisers LLC increased its stake in shares of Amgen by 17.2% during the 1st quarter. DCF Advisers LLC now owns 6,825 shares of the medical research company’s stock worth $2,126,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Liberty Wealth Management LLC increased its stake in shares of Amgen by 551.9% during the 1st quarter. Liberty Wealth Management LLC now owns 16,592 shares of the medical research company’s stock worth $5,169,000 after purchasing an additional 14,047 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the transaction, the senior vice president owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the completion of the sale, the senior vice president owned 7,225 shares in the company, valued at $2,436,703.50. This trade represents a 30.29% decrease in their position. 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 three months. Corporate insiders own 0.76% of the company’s stock.

Amgen Stock Up 0.0%

AMGN stock opened at $344.65 on Monday. The stock has a 50-day simple moving average of $307.51 and a two-hundred day simple moving average of $295.14. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $345.84. The firm has a market capitalization of $185.59 billion, a PE ratio of 28.18, a PEG ratio of 2.61 and a beta of 0.45. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

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

Amgen Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMGN. Morgan Stanley reduced their price objective on Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Scotiabank began coverage on Amgen in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price target on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Amgen in a report on Tuesday, November 25th. Citigroup boosted their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Finally, Wells Fargo & Company set a $400.00 target price on shares of Amgen in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus price target of $333.74.

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.