Amgen Inc. $AMGN Shares Purchased by Greatmark Investment Partners Inc.

Key Points

• Greatmark Investment Partners Inc. increased its holdings in Amgen Inc. by 2.3%, owning 72,245 shares valued at over $20 million, making it the firm's 14th largest investment.
• Multiple institutional investors, including Vanguard Group and Goldman Sachs Group, have also recently boosted their stakes in Amgen, indicating strong institutional interest.
• Analysts have mixed opinions on Amgen's stock, with a consensus rating of "Hold" and price targets ranging from $300.94 to $342.00, reflecting varying confidence in its future performance.

Greatmark Investment Partners Inc. boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,245 shares of the medical research company's stock after acquiring an additional 1,608 shares during the period. Amgen comprises 2.5% of Greatmark Investment Partners Inc.'s portfolio, making the stock its 14th largest holding. Greatmark Investment Partners Inc.'s holdings in Amgen were worth $20,172,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Amgen by 0.3% during the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock valued at $16,471,790,000 after acquiring an additional 148,658 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Amgen by 6.0% during the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company's stock worth $1,521,339,000 after buying an additional 274,488 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Amgen by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company's stock valued at $1,387,695,000 after buying an additional 243,306 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Amgen by 1.6% during the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company's stock valued at $1,017,525,000 after buying an additional 52,734 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Amgen by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company's stock worth $940,989,000 after acquiring an additional 22,820 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AMGN shares. Weiss Ratings upgraded Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Citigroup raised their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. UBS Group dropped their price target on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Piper Sandler increased their price target on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. Finally, Morgan Stanley boosted their price objective on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Amgen currently has a consensus rating of "Hold" and a consensus target price of $300.94.

Amgen Stock Down 0.7%

Shares of NASDAQ:AMGN opened at $301.14 on Wednesday. The firm has a market cap of $162.12 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.68 and a beta of 0.49. The company has a fifty day simple moving average of $287.83 and a 200 day simple moving average of $287.15. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter in the prior year, the firm posted $4.97 earnings per share. Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio is 77.84%.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company'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 completion of the sale, the senior vice president directly owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is owned by company insiders.

Amgen 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.