Amgen Inc. $AMGN Shares Bought by New England Asset Management Inc.

Key Points

• New England Asset Management Inc. increased its stake in Amgen Inc. by 10.1%, now holding 21,295 shares worth approximately $6.63 million, making it the fund's 27th largest position.
• Amgen recently reported earnings of $6.02 per share for the last quarter, exceeding estimates, with revenue up 9.4% compared to the previous year, totaling $9.18 billion.
• The company declared a quarterly dividend of $2.38, reflecting a 3.4% dividend yield, with a payout ratio of 77.84%.

New England Asset Management Inc. grew its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,295 shares of the medical research company's stock after acquiring an additional 1,950 shares during the quarter. Amgen accounts for approximately 1.1% of New England Asset Management Inc.'s holdings, making the stock its 27th largest holding. New England Asset Management Inc.'s holdings in Amgen were worth $6,634,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC acquired a new stake in Amgen in the first quarter worth about $25,000. Pinney & Scofield Inc. acquired a new stake in Amgen in the fourth quarter worth about $26,000. First Pacific Financial boosted its holdings in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after acquiring an additional 67 shares in the last quarter. Activest Wealth Management boosted its holdings in Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after acquiring an additional 103 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Performance

AMGN stock traded up $3.09 during trading on Thursday, hitting $281.60. 824,218 shares of the company traded hands, compared to its average volume of 2,770,579. The stock's 50-day simple moving average is $293.29 and its 200 day simple moving average is $292.22. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market cap of $151.60 billion, a PE ratio of 23.03, a P/E/G ratio of 2.43 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17.

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

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This trade 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 accessible through this hyperlink. Insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent analyst reports. UBS Group lowered their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Guggenheim initiated coverage on Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective for the company. Bank of America raised their price objective on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 23rd. Piper Sandler raised their price objective on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. Finally, Citigroup raised their price objective on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $304.43.

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.