Shell Asset Management Co. Acquires 7,440 Shares of Amgen Inc. $AMGN

Shell Asset Management Co. boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 86.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,076 shares of the medical research company's stock after buying an additional 7,440 shares during the period. Shell Asset Management Co.'s holdings in Amgen were worth $4,489,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. OLD National Bancorp IN boosted its stake in Amgen by 296.2% during the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company's stock worth $5,027,000 after buying an additional 13,460 shares in the last quarter. KPP Advisory Services LLC lifted its holdings in shares of Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after acquiring an additional 2,716 shares during the period. Advisor Resource Council acquired a new stake in shares of Amgen during the 1st quarter valued at about $1,331,000. Trinity Legacy Partners LLC boosted its position in shares of Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock valued at $5,026,000 after acquiring an additional 612 shares in the last quarter. Finally, DLK Investment Management LLC increased its stake in Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after acquiring an additional 1,387 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Up 0.5%

AMGN opened at $295.54 on Wednesday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The stock has a market capitalization of $159.11 billion, a PE ratio of 24.17, a PEG ratio of 2.55 and a beta of 0.49. 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 50-day moving average price of $287.04 and a two-hundred day moving average price of $287.88.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen'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 anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen's payout ratio is presently 77.84%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is owned by company insiders.

Analysts Set New Price Targets

AMGN has been the subject of a number of analyst reports. Citigroup raised 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. Raymond James Financial started coverage on Amgen in a research report on Wednesday, September 3rd. They issued a "market perform" rating on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of Amgen in a report on Saturday, September 27th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Finally, Wall Street Zen raised shares of Amgen from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Amgen has an average rating of "Hold" and a consensus price target of $309.42.

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.

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