Morningstar Investment Management LLC Makes New $1.14 Million Investment in Amgen Inc. $AMGN

Key Points

• Morningstar Investment Management LLC acquired a new position in Amgen Inc., investing approximately $1.14 million for 4,084 shares during the second quarter.
• Amgen reported a quarterly earnings per share (EPS) of $6.02, exceeding analysts' estimates of $5.28, with revenues of $9.18 billion.
• The company recently declared a quarterly dividend of $2.38 per share, resulting in an annualized dividend of $9.52 and a yield of 3.3%.

Morningstar Investment Management LLC bought a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,084 shares of the medical research company's stock, valued at approximately $1,140,000.

Several other large investors have also bought and sold shares of AMGN. Brighton Jones LLC raised its holdings in Amgen by 23.5% in the fourth 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 during the last quarter. GAMMA Investing LLC grew its stake in shares of Amgen by 40.2% in the first quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company's stock worth $3,662,000 after acquiring an additional 3,369 shares during the period. Sound Income Strategies LLC grew its stake in shares of Amgen by 6.4% in the first quarter. Sound Income Strategies LLC now owns 834 shares of the medical research company's stock worth $260,000 after acquiring an additional 50 shares during the period. Acropolis Investment Management LLC grew its stake in shares of Amgen by 7.8% in the first quarter. Acropolis Investment Management LLC now owns 1,097 shares of the medical research company's stock worth $342,000 after acquiring an additional 79 shares during the period. Finally, Stewardship Advisors LLC grew its stake in shares of Amgen by 4.9% in the first quarter. Stewardship Advisors LLC now owns 893 shares of the medical research company's stock worth $278,000 after acquiring an additional 42 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 transaction, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is owned by corporate insiders.

Amgen Stock Performance

AMGN opened at $292.40 on Tuesday. 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 company has a market cap of $157.42 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.52 and a beta of 0.49. The company's 50 day moving average is $286.58 and its 200 day moving average is $287.33. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data 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. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter last year, the firm posted $4.97 earnings per share. The firm's revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen's payout ratio is currently 77.84%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. UBS Group reduced their price target on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Citigroup lifted their price target on shares of Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. Bank of America lifted their price target on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a research note on Friday, September 26th. Finally, Weiss Ratings raised shares of Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $309.42.

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.

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