Amgen Inc. $AMGN Stock Position Lifted by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments increased its stake in Amgen Inc. by 11.5% during the second quarter, now owning approximately 0.10% of the company valued at $151.87 million.
• Amgen's quarterly earnings exceeded expectations, reporting $6.02 earnings per share and $9.18 billion in revenue, marking a 9.4% increase year-over-year.
• Analysts' ratings on Amgen are mixed, with seven giving a Buy rating, while twelve issued a Hold rating, reflecting cautious optimism about its performance.

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 543,933 shares of the medical research company's stock after buying an additional 56,183 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.10% of Amgen worth $151,872,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new position in Amgen during the 1st quarter worth approximately $25,000. First Pacific Financial lifted its holdings in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after purchasing an additional 85 shares during the last quarter. Activest Wealth Management lifted its holdings in shares of Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after purchasing an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. lifted its holdings in shares of Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock worth $38,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AMGN shares. William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Morgan Stanley raised their target price on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Citigroup raised their target price on Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Finally, Raymond James Financial started coverage on Amgen in a research report on Wednesday, September 3rd. They issued a "market perform" rating on the stock. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $309.70.

Amgen Stock Down 0.4%

Shares of AMGN stock opened at $297.40 on Friday. The stock has a market cap of $160.11 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 2.59 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The business's fifty day moving average is $287.51 and its 200-day moving average is $288.50. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was 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 $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.76% of the stock is currently owned by corporate 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.

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