Tredje AP fonden Invests $23.19 Million in Amgen Inc. $AMGN

Key Points

• Tredje AP fonden opened a new position in Amgen, buying 70,856 shares valued at about $23.19 million in the fourth quarter.
• Amgen continues to attract institutional interest, with several other funds adding to or initiating stakes; institutional investors now own 76.5% of the company.
• Analysts remain mixed but generally constructive: multiple firms raised price targets, and Amgen also reported better-than-expected quarterly earnings and announced a $2.52 per share quarterly dividend.

Tredje AP fonden purchased a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 70,856 shares of the medical research company's stock, valued at approximately $23,192,000.

A number of other institutional investors have also modified their holdings of the business. Robeco Institutional Asset Management B.V. boosted its position in shares of Amgen by 10.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company's stock worth $157,584,000 after buying an additional 43,884 shares during the period. Curtis Advisory Group LLC bought a new position in Amgen in the 4th quarter worth approximately $1,669,000. Jones Financial Companies Lllp increased its position in Amgen by 18.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 39,778 shares of the medical research company's stock valued at $10,888,000 after acquiring an additional 6,115 shares during the period. Lockheed Martin Investment Management Co. bought a new stake in Amgen during the 3rd quarter valued at $2,624,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Amgen by 8.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 591,891 shares of the medical research company's stock valued at $167,032,000 after acquiring an additional 47,958 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

AMGN has been the subject of a number of analyst reports. UBS Group boosted their price target on Amgen from $390.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. The Goldman Sachs Group lifted their price objective on shares of Amgen from $415.00 to $425.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Royal Bank Of Canada upped their price objective on shares of Amgen from $360.00 to $370.00 and gave the stock an "outperform" rating in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Amgen from $285.00 to $295.00 and gave the company a "hold" rating in a research report on Thursday, February 5th. Finally, Erste Group Bank restated a "hold" rating on shares of Amgen in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Amgen currently has an average rating of "Hold" and an average price target of $356.15.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the transaction, the senior vice president owned 7,009 shares of the company's stock, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.85% of the stock is owned by corporate insiders.

Amgen Trading Down 0.6%

Shares of Amgen stock opened at $324.39 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The firm has a market cap of $175.07 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 3.28 and a beta of 0.44. The business has a fifty day simple moving average of $348.31 and a 200-day simple moving average of $343.59. Amgen Inc. has a fifty-two week low of $267.83 and a fifty-two week high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same period in the previous year, the company earned $4.90 earnings per share. Amgen's revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities analysts forecast that Amgen Inc. will post 22.37 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be given a dividend of $2.52 per share. The ex-dividend date is Friday, May 15th. This represents a $10.08 annualized dividend and a dividend yield of 3.1%. Amgen's dividend payout ratio (DPR) is 70.15%.

About Amgen

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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