ICONIQ Capital LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,341 shares of the medical research company's stock, valued at approximately $1,041,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. GAMMA Investing LLC lifted its position in Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after buying an additional 3,653,205 shares in the last quarter. Nuveen LLC purchased a new stake in Amgen in the 1st quarter worth approximately $688,868,000. Northern Trust Corp lifted its position in Amgen by 15.8% in the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock worth $1,676,183,000 after buying an additional 875,254 shares in the last quarter. Two Sigma Advisers LP lifted its position in Amgen by 96.9% in the 4th quarter. Two Sigma Advisers LP now owns 1,545,600 shares of the medical research company's stock worth $402,845,000 after buying an additional 760,700 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Amgen in the 4th quarter worth approximately $193,339,000. Hedge funds and other institutional investors own 76.50% of the company's stock.
Insider Transactions at Amgen
In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on AMGN shares. Mizuho raised their price target on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Piper Sandler raised their price target on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday. Morgan Stanley raised their price target on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Bank of America raised their price target on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Finally, UBS Group cut their price target on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Amgen has an average rating of "Hold" and an average price target of $304.43.
Read Our Latest Stock Report on AMGN
Amgen Price Performance
Shares of Amgen stock traded down $1.61 during trading on Wednesday, hitting $287.97. 1,400,593 shares of the company's stock traded hands, compared to its average volume of 2,120,274. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The firm's fifty day moving average price is $293.28 and its 200 day moving average price is $293.08. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The company has a market cap of $155.03 billion, a PE ratio of 23.55, a PEG ratio of 2.49 and a beta of 0.49.
Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the business earned $4.97 EPS. The firm's revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.
Amgen Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. Amgen's payout ratio is 77.84%.
About Amgen
(
Free Report)
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.
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