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

Key Points

• Mattern Capital Management LLC increased its holdings in Amgen Inc. by 2.6% during Q2, owning 33,893 shares valued at approximately $9.46 million as of the latest SEC filing.
• Several other institutional investors also boosted their stakes, contributing to institutional investors holding 76.5% of Amgen's stock.
• Amgen reported better-than-expected earnings of $6.02 per share for Q2, surpassing estimates and signaling a positive revenue growth of 9.4% year-over-year.

Mattern Capital Management LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,893 shares of the medical research company's stock after acquiring an additional 852 shares during the period. Mattern Capital Management LLC's holdings in Amgen were worth $9,463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Octavia Wealth Advisors LLC grew its holdings in Amgen by 1.5% during the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after acquiring an additional 35 shares during the period. Crumly & Associates Inc. grew its holdings in Amgen by 3.2% during the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock worth $320,000 after acquiring an additional 36 shares during the period. Maryland Capital Advisors Inc. grew its holdings in Amgen by 5.2% in the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock valued at $204,000 after purchasing an additional 36 shares during the last quarter. Affinity Capital Advisors LLC grew its holdings in Amgen by 4.5% in the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock valued at $246,000 after purchasing an additional 37 shares during the last quarter. Finally, Accredited Investors Inc. grew its holdings in Amgen by 1.7% in the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock valued at $674,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares in the company, 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research reports. Citigroup upped their target price on Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Bank of America upped their target price on Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a report on Friday, September 26th. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $309.70.

Amgen Stock Down 0.4%

Shares of NASDAQ:AMGN opened at $297.40 on Friday. 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 52-week low of $253.30 and a 52-week high of $335.88. The stock's fifty day simple moving average is $287.51 and its 200-day simple moving average is $288.50. The company has a market capitalization of $160.11 billion, a P/E ratio of 24.32, a P/E/G ratio of 2.59 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping 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 the consensus estimate of $8.86 billion. During the same period in the prior year, the business posted $4.97 earnings per share. The firm'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. As a group, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

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.