NewEdge Advisors LLC Increases Holdings in Amgen Inc. $AMGN

Key Points

• NewEdge Advisors LLC increased its holdings in Amgen Inc. by 9.7%, owning 75,784 shares valued at $23.6 million after purchasing an additional 6,685 shares during the first quarter.
• Amgen reported a quarterly earnings per share of $6.02, exceeding estimates of $5.28, with revenue reaching $9.18 billion—up 9.4% year-over-year.
• The company recently announced a quarterly dividend of $2.38 per share, representing an annualized yield of 3.4% and a payout ratio of 77.84%.

NewEdge Advisors LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,784 shares of the medical research company's stock after purchasing an additional 6,685 shares during the period. NewEdge Advisors LLC's holdings in Amgen were worth $23,611,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after purchasing an additional 3,653,205 shares during the last quarter. Nuveen LLC bought a new stake in Amgen during the first quarter worth about $688,868,000. Two Sigma Advisers LP grew its stake in Amgen by 96.9% during the fourth 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. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Amgen during the fourth quarter worth about $193,339,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Amgen by 15.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company's stock valued at $1,336,647,000 after acquiring an additional 685,785 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group reduced their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Bank of America boosted their price target on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Piper Sandler boosted their price target on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Citigroup boosted their price target on Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley boosted their price target on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $304.43.

Amgen Price Performance

NASDAQ AMGN traded down $1.46 during trading hours on Wednesday, hitting $278.51. The company had a trading volume of 2,086,463 shares, compared to its average volume of 2,781,731. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $339.17. The firm has a 50 day simple moving average of $293.65 and a 200 day simple moving average of $292.31. 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 firm has a market capitalization of $149.94 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.43 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 EPS 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 business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter last year, the company earned $4.97 EPS. 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. Equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is 77.84%.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.69% of the company's stock.

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.