Ethic Inc. Purchases 1,679 Shares of Amgen Inc. $AMGN

Ethic Inc. grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,863 shares of the medical research company’s stock after buying an additional 1,679 shares during the quarter. Ethic Inc.’s holdings in Amgen were worth $24,390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AMGN. BlackRock Inc. grew its holdings in shares of Amgen by 4.8% in the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after acquiring an additional 2,261,544 shares in the last quarter. State Street Corp increased its position in shares of Amgen by 38.2% during the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock valued at $15,283,363,000 after acquiring an additional 11,656,755 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Amgen by 12.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company’s stock worth $1,952,156,000 after acquiring an additional 605,928 shares during the period. Bank of America Corp DE bought a new stake in Amgen during the second quarter worth $1,831,903,000. Finally, Amundi lifted its holdings in Amgen by 15.2% during the second quarter. Amundi now owns 3,890,189 shares of the medical research company’s stock worth $1,408,715,000 after acquiring an additional 512,883 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $460.42 on Friday. Amgen Inc. has a 12 month low of $312.39 and a 12 month high of $483.99. The company has a current ratio of 1.48, a quick ratio of 1.13 and a debt-to-equity ratio of 3.60. The business’s 50 day simple moving average is $422.43 and its 200 day simple moving average is $378.19. The company has a market cap of $249.05 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 3.21 and a beta of 0.43.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share for the quarter, beating the consensus estimate of $5.79 by $0.66. Amgen had a return on equity of 114.99% and a net margin of 24.14%. The business had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same period in the prior year, the company earned $5.64 earnings per share. Amgen’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts forecast that Amgen Inc. will post 23.33 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be given a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, November 20th. Amgen’s dividend payout ratio is currently 58.47%.

Analysts Set New Price Targets

Several research analysts have weighed in on AMGN shares. Freedom Broker cut Amgen from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $450.00 to $470.00 in a research report on Friday. BMO Capital Markets decreased their target price on Amgen from $450.00 to $415.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. TD Cowen lifted their target price on Amgen from $452.00 to $531.00 and gave the stock a “buy” rating in a research note on Wednesday. Sanford C. Bernstein boosted their price target on shares of Amgen from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Cantor Fitzgerald increased their price target on shares of Amgen from $440.00 to $465.00 and gave the company a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Amgen currently has an average rating of “Hold” and an average price target of $420.80.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the transaction, the senior vice president owned 6,404 shares in the company, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.85% of the company’s stock.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported quarterly earnings and revenue above expectations, with revenue up 8.5% year over year. Its earnings-call discussion also emphasized growth and pipeline momentum, supporting the case for continued expansion. Amgen Earnings Call Highlights Growth, Pipeline Momentum
• Positive Sentiment: A large real-world study found Repatha lowered heart-attack risk by 20% versus ezetimibe in patients with heart disease. The findings could strengthen the drug’s clinical and commercial position. Repatha real-world study
• Positive Sentiment: Scotiabank reiterated a Buy view and set a $530 price target; UBS also maintains a Buy rating with a $530 target. Separately, ETFs bought a net $79.8 million of AMGN shares in Wednesday’s session. Scotiabank price target ETF holdings
• Neutral Sentiment: Analyst opinions remain divided: Leerink Partners and Guggenheim have Hold/neutral ratings, while Scotiabank and UBS are more optimistic. The differing views suggest debate about how much of Amgen’s recent gains are already reflected in its valuation. Leerink Partners rating
• Negative Sentiment: Freedom Broker downgraded Amgen to Hold, adding to the cautious analyst commentary and potentially tempering enthusiasm after the recent rally. Freedom Broker downgrade

Amgen Company Profile

Amgen is a biotechnology company that discovers, develops, manufactures and commercializes medicines for serious illnesses. Its research and product portfolio span areas including cancer, cardiovascular disease, inflammation, bone health and rare diseases.

The company’s medicines include Enbrel, Prolia, Xgeva and Repatha. Amgen serves patients and healthcare providers in the United States and markets its products internationally.

Founded in 1980 and headquartered in Thousand Oaks, California, Amgen is led by Robert A.