Foster Group Inc. Has $621,000 Stock Holdings in Amgen Inc. $AMGN

Key Points

• Foster Group Inc. significantly increased its stake in Amgen Inc. by 181.9% in the second quarter, now owning 2,224 shares valued at approximately $621,000.
• Amgen reported strong quarterly earnings, with $6.02 EPS, exceeding expectations and showing a 9.4% increase in revenue compared to the previous year.
• The average analyst rating for Amgen is currently "Hold," with target prices ranging from $261.00 to $342.00, indicating mixed sentiment among investors.

Foster Group Inc. increased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 181.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,224 shares of the medical research company's stock after purchasing an additional 1,435 shares during the quarter. Foster Group Inc.'s holdings in Amgen were worth $621,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after buying an additional 5,226 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Amgen in the 4th quarter valued at $47,000. Pinney & Scofield Inc. bought a new position in Amgen in the fourth quarter valued at approximately $26,000. Vermillion Wealth Management Inc. bought a new stake in Amgen during the fourth quarter worth $85,000. Finally, Perennial Advisors LLC bought a new position in Amgen during the fourth quarter worth about $4,989,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction on 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 sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.69% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several analyst reports. Citigroup increased their target price on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. UBS Group cut their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Raymond James Financial began 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 note on Tuesday, June 24th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Seven research 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $304.43.

Amgen Stock Up 0.2%

AMGN stock traded up $0.59 during trading on Monday, reaching $286.00. 3,050,077 shares of the company traded hands, compared to its average volume of 2,339,546. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. The business has a 50 day simple moving average of $290.35 and a 200 day simple moving average of $290.02. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The company has a market capitalization of $153.97 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts anticipate 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 was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. Amgen's dividend payout ratio is currently 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.