DnB Asset Management AS Acquires 2,891 Shares of Amgen Inc. $AMGN

Key Points

• DnB Asset Management AS increased its holdings in Amgen Inc. by 1.8%, acquiring an additional 2,891 shares, bringing its total ownership to 167,665 shares valued at approximately $52.24 million.
• Amgen's recent earnings report showed an EPS of $6.02, surpassing analysts' expectations of $5.28, and revenue of $9.18 billion, which is a 9.4% increase from the previous year.
• The company declared a quarterly dividend of $2.38 per share, yielding 3.4% annually, with the ex-dividend date set for August 22nd.

DnB Asset Management AS lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,665 shares of the medical research company's stock after buying an additional 2,891 shares during the period. DnB Asset Management AS's holdings in Amgen were worth $52,236,000 at the end of the most recent quarter.

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

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMGN. William Blair restated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Raymond James Financial started coverage on Amgen in a research note on Wednesday. They set a "market perform" rating on the stock. Piper Sandler boosted their price objective on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Bank of America boosted their price objective on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Finally, Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of "Hold" and a consensus target price of $304.43.

Amgen Trading Up 1.3%

Shares of Amgen stock traded up $3.54 during trading on Friday, reaching $283.64. 2,299,355 shares of the stock were exchanged, compared to its average volume of 1,790,560. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The stock's fifty day moving average is $293.85 and its 200 day moving average is $292.60. The firm has a market cap of $152.70 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 2.46 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 posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the prior year, the business posted $4.97 earnings per share. Amgen's revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio is presently 77.84%.

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.