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

Bessemer Group Inc. grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,644 shares of the medical research company’s stock after buying an additional 1,200 shares during the period. Bessemer Group Inc.’s holdings in Amgen were worth $7,160,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. OLD National Bancorp IN lifted its holdings in Amgen by 296.2% during the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after purchasing an additional 13,460 shares during the last quarter. Trinity Legacy Partners LLC lifted its stake in shares of Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after buying an additional 612 shares during the last quarter. Founders Financial Alliance LLC lifted its stake in shares of Amgen by 2.7% during the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock worth $491,000 after buying an additional 42 shares during the last quarter. Stephens Inc. AR lifted its position in Amgen by 14.2% during the second quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock worth $26,729,000 after acquiring an additional 11,888 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in Amgen by 2.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,397 shares of the medical research company’s stock worth $86,423,000 after acquiring an additional 7,308 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 0.3%

AMGN stock opened at $292.09 on Wednesday. The company has a market cap of $157.25 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49. The business has a 50-day simple moving average of $287.82 and a 200 day simple moving average of $287.41. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. 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 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 analysts’ expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts anticipate 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 given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen’s payout ratio is currently 77.84%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMGN has been the subject of several research reports. Piper Sandler raised their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Bank of America lifted their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Raymond James Financial started coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. UBS Group dropped their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Finally, Citigroup lifted their price objective on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Six investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $300.94.

About Amgen

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.