Federated Hermes Inc. Has $634.68 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Federated Hermes Inc. increased its stake in Amgen Inc. by 48.5% in Q1, owning 2,037,169 shares valued at approximately $634.7 million.
• Multiple institutional investors also adjusted their holdings in Amgen, with some like KPP Advisory Services LLC raising their stake significantly, indicating strong institutional interest.
• Amgen's last earnings report showed earnings per share of $4.90, beating analysts' estimates, with a net revenue of $8.15 billion, reflecting a 9.4% increase year-over-year.

Federated Hermes Inc. grew its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 48.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,037,169 shares of the medical research company's stock after buying an additional 665,555 shares during the quarter. Amgen comprises 1.4% of Federated Hermes Inc.'s holdings, making the stock its 7th biggest position. Federated Hermes Inc. owned about 0.38% of Amgen worth $634,680,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinney & Scofield Inc. purchased a new position in shares of Amgen in the fourth quarter worth approximately $26,000. First Pacific Financial increased its position in shares of 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. Ritter Daniher Financial Advisory LLC DE increased its position in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after acquiring an additional 51 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Amgen in the fourth quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC increased its position in shares of Amgen by 46.9% in the fourth quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock worth $37,000 after acquiring an additional 45 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several analyst reports. Guggenheim initiated coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price on the stock. Citigroup boosted their price objective on shares of Amgen from $300.00 to $305.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $307.27.

Amgen Stock Performance

Shares of AMGN stock traded up $2.30 during trading hours on Friday, reaching $297.40. 1,352,993 shares of the company traded hands, compared to its average volume of 2,902,211. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $339.17. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The company has a market cap of $159.91 billion, a P/E ratio of 27.13, a P/E/G ratio of 2.61 and a beta of 0.49. The firm has a 50-day moving average price of $291.53 and a 200 day moving average price of $291.66.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the previous year, the company posted $3.96 EPS. The company's revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

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.