Amgen Inc. $AMGN is Federated Hermes Inc.’s 10th Largest Position

Federated Hermes Inc. lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,087,554 shares of the medical research company’s stock after selling 84,270 shares during the period. Amgen comprises about 1.0% of Federated Hermes Inc.’s holdings, making the stock its 10th biggest position. Federated Hermes Inc. owned about 0.39% of Amgen worth $589,108,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Vanguard Group Inc. increased its holdings in shares of Amgen by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock worth $14,996,807,000 after buying an additional 841,117 shares during the last quarter. State Street Corp increased its stake in shares of Amgen by 0.6% in the second quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock worth $8,196,775,000 after buying an additional 177,035 shares during the period. Geode Capital Management LLC grew its stake in shares of Amgen by 2.3% in the second quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock worth $3,619,489,000 after purchasing an additional 291,271 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Amgen by 5.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock worth $3,600,043,000 after acquiring an additional 687,735 shares during the period. Finally, Laurel Wealth Advisors LLC boosted its position in Amgen by 27,765.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after acquiring an additional 6,676,575 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley lowered their price objective on Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, December 12th. Sanford C. Bernstein cut shares of Amgen from an “outperform” rating to a “market perform” rating and set a $335.00 price target on the stock. in a report on Tuesday, January 20th. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Monday, December 15th. Wells Fargo & Company increased their target price on Amgen from $300.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. Finally, Erste Group Bank upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $339.71.

Amgen Price Performance

NASDAQ AMGN opened at $351.32 on Wednesday. The company has a 50-day moving average price of $332.38 and a 200-day moving average price of $308.43. Amgen Inc. has a 52 week low of $261.43 and a 52 week high of $353.25. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45. The firm has a market capitalization of $189.18 billion, a P/E ratio of 27.15, a PEG ratio of 3.10 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. During the same period in the prior year, the company earned $5.58 earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be paid a $2.52 dividend. This represents a $10.08 annualized dividend and a dividend yield of 2.9%. This is an increase from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s dividend payout ratio is 73.57%.

Insider Activity

In related news, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the transaction, the executive vice president directly owned 41,923 shares in the company, valued at approximately $14,120,924.09. The trade was a 14.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. The trade was a 30.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,908 shares of company stock valued at $3,674,966 in the last ninety days. Corporate insiders own 0.69% of the company’s stock.

Amgen Profile

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.