Assenagon Asset Management S.A. Raises Stock Holdings in Amgen Inc. $AMGN

Key Points

• Assenagon Asset Management S.A. increased its holdings in Amgen Inc. by 1,505.3% in the second quarter, now owning approximately 518,604 shares valued at around $144.8 million.
• The company announced a quarterly dividend of $2.38 per share, indicating a dividend yield of 3.3% and a payout ratio of 77.84%.
• Analyst ratings for Amgen vary, with a consensus rating of "Hold" and a target price around $304.43, reflecting mixed outlooks from different financial institutions.

Assenagon Asset Management S.A. increased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 1,505.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 518,604 shares of the medical research company's stock after acquiring an additional 486,299 shares during the quarter. Assenagon Asset Management S.A. owned about 0.10% of Amgen worth $144,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KPP Advisory Services LLC increased its holdings in shares of Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock valued at $1,817,000 after acquiring an additional 2,716 shares in the last quarter. Advisor Resource Council bought a new stake in shares of Amgen during the first quarter valued at approximately $1,331,000. Trinity Legacy Partners LLC increased its holdings in shares of Amgen by 3.9% during the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock valued at $5,026,000 after acquiring an additional 612 shares in the last quarter. DLK Investment Management LLC increased its holdings in shares of Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after acquiring an additional 1,387 shares in the last quarter. Finally, Founders Financial Alliance LLC increased its holdings in shares of Amgen by 2.7% during the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock valued at $491,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction 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 transaction, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.76% of the stock is owned by company insiders.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $9.58 during mid-day trading on Friday, reaching $285.41. 8,729,346 shares of the company traded hands, compared to its average volume of 1,985,005. The company's 50 day moving average price is $290.57 and its 200-day moving average price is $290.48. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $339.17. The firm has a market cap of $153.65 billion, a PE ratio of 23.34, a PEG ratio of 2.48 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion for 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%.The firm's revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.97 EPS. 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 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's dividend payout ratio is 77.84%.

Analyst Ratings Changes

AMGN has been the subject of several recent research reports. Raymond James Financial initiated coverage on Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating for the company. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Piper Sandler upped their price target on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Bank of America increased their price objective on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Finally, UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.