Swedbank AB Has $214.68 Million Position in Amgen Inc. $AMGN

Key Points

• Swedbank AB increased its stake in Amgen Inc. by 14.2%, owning 768,882 shares valued at $214,680,000 as of the second quarter.
• Several institutional investors have also raised their positions in Amgen, contributing to 76.50% of the stock being owned by institutional investors and hedge funds.
• Amgen reported a quarterly earnings per share of $6.02, surpassing analysts' expectations, while the company has set a FY 2025 guidance of 20.200-21.300 EPS.

Swedbank AB raised its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 14.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 768,882 shares of the medical research company's stock after purchasing an additional 95,470 shares during the quarter. Swedbank AB owned about 0.14% of Amgen worth $214,680,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new stake in Amgen during the 1st quarter worth $25,000. Pinney & Scofield Inc. acquired a new position in Amgen during the 4th quarter valued at about $26,000. First Pacific Financial lifted its stake in shares of 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 acquiring an additional 67 shares during the period. CBIZ Investment Advisory Services LLC lifted its stake in 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 during the last quarter. Finally, Activest Wealth Management lifted its stake in Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMGN. Piper Sandler boosted 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, August 25th. Morgan Stanley increased 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. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Bank of America raised their price objective on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research report on Wednesday, July 23rd. Finally, William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $304.43.

Amgen Stock Up 0.2%

AMGN traded up $0.59 during trading on Monday, reaching $286.00. 3,050,077 shares of the stock were exchanged, compared to its average volume of 2,339,546. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The stock has a market cap of $153.97 billion, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 2.48 and a beta of 0.49. The stock's 50 day moving average price is $290.35 and its two-hundred day moving average price is $290.02. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts expect 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. Investors of record on Friday, August 22nd were given 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 dividend payout ratio is currently 77.84%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This 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 can be accessed through the SEC website. Company insiders own 0.69% of the company's stock.

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.