Brokerages Set Amgen Inc. (NASDAQ:AMGN) PT at $332.85

Amgen Inc. (NASDAQ:AMGN) has earned an average rating of “Moderate Buy” from the twenty-two research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $332.85.

Several brokerages have recently weighed in on AMGN. Bank of America upped their price target on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Scotiabank started coverage on shares of Amgen in a report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 target price on the stock. BMO Capital Markets increased their target price on shares of Amgen from $335.00 to $372.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of Amgen in a report on Tuesday, November 25th. Finally, Morgan Stanley reduced their price target on shares of Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, December 12th.

Amgen Trading Down 0.3%

NASDAQ:AMGN opened at $332.93 on Monday. The company has a market cap of $179.28 billion, a P/E ratio of 25.73, a P/E/G ratio of 3.09 and a beta of 0.45. The stock’s fifty day moving average price is $322.98 and its two-hundred day moving average price is $301.76. Amgen has a 1 year low of $257.05 and a 1 year high of $346.38. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99.

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

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be given a dividend of $2.52 per share. The ex-dividend date is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a yield of 3.0%. Amgen’s dividend payout ratio (DPR) is presently 73.57%.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 890 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the transaction, the senior vice president owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This represents a 11.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the sale, the senior vice president owned 7,225 shares in the company, valued at approximately $2,436,703.50. This trade represents a 30.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 10,908 shares of company stock worth $3,674,966. Insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMGN. Triumph Capital Management lifted its stake in Amgen by 58.4% during the third quarter. Triumph Capital Management now owns 1,543 shares of the medical research company’s stock worth $435,000 after purchasing an additional 569 shares during the last quarter. AIA Group Ltd raised its holdings in shares of Amgen by 61.6% during the 3rd quarter. AIA Group Ltd now owns 21,876 shares of the medical research company’s stock valued at $6,173,000 after buying an additional 8,341 shares in the last quarter. MRP Capital Investments LLC bought a new stake in Amgen in the 3rd quarter worth approximately $181,000. Saranac Partners Ltd purchased a new stake in Amgen in the third quarter worth approximately $37,000. Finally, Severin Investments LLC boosted its stake in Amgen by 83.2% in the third quarter. Severin Investments LLC now owns 1,902 shares of the medical research company’s stock worth $537,000 after buying an additional 864 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Company 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.