Eurizon Capital SGR S.p.A. Invests $86.74 Million in Amgen Inc. $AMGN

Key Points

• Eurizon Capital SGR opened a new position in Amgen during the fourth quarter, buying 264,953 shares worth about $86.74 million.
• Amgen’s latest quarterly results beat expectations, with EPS of $5.15 versus $4.77 expected and revenue of $8.62 billion, up 5.8% year over year.
• The company also announced a $2.52 quarterly dividend payable on June 5, implying a 3.0% yield; meanwhile, analysts currently have a consensus rating of Hold with a $355.19 target price.

Eurizon Capital SGR S.p.A. bought a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 264,953 shares of the medical research company's stock, valued at approximately $86,737,000.

Other large investors have also made changes to their positions in the company. Dogwood Wealth Management LLC raised its stake in shares of Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after buying an additional 55 shares during the period. Anfield Capital Management LLC raised its stake in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after buying an additional 70 shares during the period. Board of the Pension Protection Fund acquired a new position in shares of Amgen during the 4th quarter worth approximately $26,000. Manning & Napier Advisors LLC raised its stake in shares of Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock worth $32,000 after buying an additional 32 shares during the period. Finally, Olistico Wealth LLC acquired a new position in shares of Amgen during the 4th quarter worth approximately $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at $2,269,023.57. This trade represents a 15.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMGN. UBS Group increased their price objective on Amgen from $390.00 to $400.00 and gave the company a "buy" rating in a research note on Monday, April 13th. Wall Street Zen raised Amgen from a "hold" rating to a "buy" rating in a research note on Saturday, May 23rd. Wells Fargo & Company increased their price objective on Amgen from $375.00 to $390.00 and gave the company an "equal weight" rating in a research note on Thursday, March 19th. Daiwa Securities Group reduced their price objective on Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Finally, Argus reduced their price objective on Amgen from $400.00 to $375.00 and set a "buy" rating for the company in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Amgen presently has a consensus rating of "Hold" and a consensus target price of $355.19.

Amgen Stock Up 0.1%

NASDAQ AMGN opened at $336.79 on Friday. Amgen Inc. has a one year low of $267.83 and a one year high of $391.29. The company has a market cap of $181.77 billion, a P/E ratio of 23.44, a P/E/G ratio of 3.38 and a beta of 0.44. The business has a fifty day moving average price of $342.53 and a 200 day moving average price of $345.33. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period last year, the company earned $4.90 EPS. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts anticipate that Amgen Inc. will post 22.37 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 15th will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.0%. Amgen's dividend payout ratio (DPR) is 70.15%.

Amgen Company Profile

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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