AIA Group Ltd purchased a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,413 shares of the medical research company's stock, valued at approximately $440,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. KPP Advisory Services LLC lifted its position in shares of Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after buying an additional 2,716 shares in the last quarter. Advisor Resource Council purchased a new stake in shares of Amgen during the 1st quarter worth approximately $1,331,000. DLK Investment Management LLC boosted its holdings in shares of Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after acquiring an additional 1,387 shares during the period. Founders Financial Alliance LLC boosted its holdings in shares of Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock worth $491,000 after acquiring an additional 42 shares during the period. Finally, Stratos Investment Management LLC boosted its holdings in shares of Amgen by 24.8% in the first quarter. Stratos Investment Management LLC now owns 21,382 shares of the medical research company's stock worth $6,662,000 after acquiring an additional 4,252 shares during the period. Institutional investors own 76.50% of the company's stock.
Insider Activity
In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.76% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on AMGN shares. Piper Sandler restated an "overweight" rating and set a $328.00 price target on shares of Amgen in a research report on Friday, June 27th. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Royal Bank Of Canada lowered their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Mizuho upped their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Guggenheim assumed coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $303.76.
Get Our Latest Stock Report on Amgen
Amgen Stock Performance
AMGN traded up $6.18 during trading on Friday, hitting $296.47. The company's stock had a trading volume of 2,167,753 shares, compared to its average volume of 2,876,277. 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 Inc. has a one year low of $253.30 and a one year high of $339.17. The firm has a market cap of $159.61 billion, a PE ratio of 24.24, a P/E/G ratio of 2.49 and a beta of 0.49. The business's 50 day simple moving average is $293.18 and its 200-day simple moving average is $292.85.
Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company's revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $4.97 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.
Amgen Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's payout ratio is 77.84%.
About Amgen
(
Free Report)
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.
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