Amgen Inc. $AMGN Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Amgen Inc. (NASDAQ:AMGN) by 2.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 13,018,617 shares of the medical research company’s stock after acquiring an additional 291,271 shares during the quarter. Geode Capital Management LLC’s holdings in Amgen were worth $3,619,489,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Nuveen LLC purchased a new stake in shares of Amgen during the first quarter worth about $688,868,000. Federated Hermes Inc. boosted 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 buying an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Amgen by 128.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after buying an additional 600,096 shares during the last quarter. WoodTrust Financial Corp increased its stake in Amgen by 8,223.6% during the 2nd quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock worth $166,307,000 after buying 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 second quarter valued at approximately $156,812,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were 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 $2,141,000.91. This represents 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 the SEC website. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AMGN shares. DZ Bank raised their target price on Amgen from $335.00 to $364.00 in a research report on Monday. UBS Group reduced their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Guggenheim upped their target price on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Saturday. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $307.94.

Amgen Stock Up 4.6%

AMGN stock opened at $338.45 on Wednesday. Amgen Inc. has a one year low of $253.30 and a one year high of $338.55. The firm has a market cap of $182.25 billion, a PE ratio of 27.67, a PEG ratio of 2.61 and a beta of 0.45. The firm’s 50 day moving average price is $291.69 and its 200-day moving average price is $289.36. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. During the same quarter last year, the firm earned $5.58 earnings per share. The firm’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 research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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

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.