Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Amgen Inc. by 5.8%, owning approximately 4.45 million shares valued at around $1.39 billion.
• Amgen reported earnings of $6.02 per share, surpassing analyst expectations and showing a 9.4% year-over-year revenue growth to $9.18 billion.
• The company declared a quarterly dividend of $2.38 per share, representing an annual yield of 3.2% with a payout ratio of 86.86%.

Goldman Sachs Group Inc. raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,454,164 shares of the medical research company's stock after purchasing an additional 243,306 shares during the quarter. Goldman Sachs Group Inc. owned about 0.83% of Amgen worth $1,387,695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Intrust Bank NA increased its position in shares of Amgen by 3.5% during the 1st quarter. Intrust Bank NA now owns 7,819 shares of the medical research company's stock worth $2,436,000 after purchasing an additional 263 shares during the last quarter. Westwood Holdings Group Inc. increased its position in shares of Amgen by 30.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 15,606 shares of the medical research company's stock worth $4,862,000 after purchasing an additional 3,631 shares during the last quarter. Wallington Asset Management LLC increased its position in shares of Amgen by 0.4% during the 1st quarter. Wallington Asset Management LLC now owns 41,974 shares of the medical research company's stock worth $13,077,000 after purchasing an additional 185 shares during the last quarter. iA Global Asset Management Inc. raised its stake in shares of Amgen by 5.3% in the 1st quarter. iA Global Asset Management Inc. now owns 61,017 shares of the medical research company's stock valued at $19,010,000 after acquiring an additional 3,079 shares during the period. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Amgen in the 1st quarter valued at approximately $189,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

NASDAQ:AMGN opened at $300.08 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The firm has a 50-day moving average price of $293.06 and a two-hundred day moving average price of $292.45. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The company has a market capitalization of $161.36 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its 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. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period last year, the firm posted $4.97 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen's payout ratio is 86.86%.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.69% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. Piper Sandler reissued an "overweight" rating and issued a $328.00 price objective on shares of Amgen in a research report on Friday, June 27th. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Mizuho increased their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada dropped their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Amgen presently has a consensus rating of "Hold" and an average price target of $307.27.

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.

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