Vanguard Group Inc. Boosts Stake in Amgen Inc. $AMGN

Vanguard Group Inc. lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,711,570 shares of the medical research company’s stock after purchasing an additional 841,117 shares during the period. Vanguard Group Inc. owned about 9.98% of Amgen worth $14,996,807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Nuveen LLC acquired a new position in shares of Amgen during the 1st quarter worth approximately $688,868,000. Federated Hermes Inc. increased its holdings in Amgen by 48.5% in the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock worth $634,680,000 after acquiring an additional 665,555 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Amgen by 128.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after acquiring an additional 600,096 shares during the period. WoodTrust Financial Corp increased its stake in shares of Amgen by 8,223.6% during the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock worth $166,307,000 after purchasing an additional 588,478 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Amgen during the 2nd quarter worth about $156,812,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMGN. Raymond James Financial initiated coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Piper Sandler lifted their price target on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research note on Friday. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Morgan Stanley decreased their price objective on Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Finally, Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $314.05.

Amgen Trading Up 1.5%

AMGN opened at $341.71 on Tuesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $345.84. 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 business has a fifty day simple moving average of $296.14 and a 200-day simple moving average of $290.80. The firm has a market cap of $184.00 billion, a P/E ratio of 27.94, a P/E/G ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter in the previous year, the business earned $5.58 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s dividend payout ratio is currently 73.57%.

Insider Activity

In related news, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 7,082 shares in the company, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,267 shares of the company’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 transaction of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 9,036 shares of company stock valued at $2,992,594. 0.76% of the stock is currently owned by company insiders.

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.