Eventide Asset Management LLC Raises Stake in Amgen Inc. $AMGN

Key Points

• Eventide Asset Management LLC increased its holdings in Amgen Inc. by 68.8%, bringing its total to 16,961 shares valued at $5.23 million as of the latest SEC filing.
• Analyst ratings for Amgen show mixed sentiment, with a consensus rating of "Hold" and an average price target of $304.43 after various adjustments in recent reports.
• Amgen announced a quarterly dividend of $2.38 per share, with an annualized dividend yield of 3.4%, set to be paid out on September 12th.

Eventide Asset Management LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 68.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,961 shares of the medical research company's stock after acquiring an additional 6,912 shares during the quarter. Eventide Asset Management LLC's holdings in Amgen were worth $5,228,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wealth Preservation Advisors LLC purchased a new stake in shares of Amgen during the 1st quarter worth approximately $25,000. Pinney & Scofield Inc. purchased a new stake in Amgen during the fourth quarter worth $26,000. First Pacific Financial grew its holdings in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Activest Wealth Management increased its position in shares of Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after buying an additional 103 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of Amgen during the 4th quarter worth $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.69% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on AMGN. William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Bank of America increased their target price on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Raymond James Financial started coverage on Amgen in a report on Wednesday, September 3rd. They issued a "market perform" rating for the company. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Finally, Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One equities 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $304.43.

Amgen Trading Down 0.1%

Shares of NASDAQ:AMGN traded down $0.22 during midday trading on Tuesday, reaching $279.97. The company's stock had a trading volume of 1,644,152 shares, compared to its average volume of 2,785,283. The firm has a market cap of $150.73 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17. The business has a 50 day moving average price of $293.87 and a 200 day moving average price of $292.40.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the business posted $4.97 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

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

Amgen Company 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.