Mn Services Vermogensbeheer B.V. Buys 105,600 Shares of Amgen Inc. $AMGN

Key Points

• Mn Services Vermogensbeheer B.V. raised its stake in Amgen Inc. by 110.7% during the 2nd quarter, acquiring an additional 105,600 shares, bringing its total holdings to approximately $56.1 million.
• Several other institutional investors, including Brighton Jones LLC and Twinbeech Capital LP, also increased their positions in Amgen during the fourth quarter, contributing to a total of 76.5% institutional ownership.
• Amgen recently reported quarterly earnings of $6.02 per share, exceeding estimates, with revenue up 9.4% year-over-year, and also declared a dividend of $2.38 per share.

Mn Services Vermogensbeheer B.V. grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 110.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200,992 shares of the medical research company's stock after purchasing an additional 105,600 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Amgen were worth $56,119,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMGN. Wealth Preservation Advisors LLC purchased a new position in Amgen during the 1st quarter valued at about $25,000. Pinney & Scofield Inc. bought a new stake in Amgen during the fourth quarter valued at about $26,000. First Pacific Financial increased its stake in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after purchasing an additional 85 shares in the last quarter. Finally, Activest Wealth Management lifted its stake in Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Amgen Trading Up 3.5%

Shares of AMGN traded up $9.58 during midday trading on Friday, hitting $285.41. The stock had a trading volume of 8,729,346 shares, compared to its average volume of 1,985,005. The business has a 50-day simple moving average of $290.57 and a two-hundred day simple moving average of $290.66. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The firm has a market cap of $153.65 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 2.48 and a beta of 0.49. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17.

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, topping 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 net margin of 18.96% and a return on equity of 174.71%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's payout ratio is currently 77.84%.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was 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 directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on AMGN shares. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Bank of America increased their price target on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. UBS Group reduced their target price 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. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Piper Sandler raised their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $304.43.

About Amgen

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.