Greenspring Advisors LLC Acquires Shares of 6,000 Amgen Inc. $AMGN

Greenspring Advisors LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) during the third quarter, Holdings Channel reports. The fund bought 6,000 shares of the medical research company’s stock, valued at approximately $1,693,000. Amgen makes up 0.3% of Greenspring Advisors LLC’s portfolio, making the stock its 25th biggest holding.

A number of other large investors also recently bought and sold shares of AMGN. OLD National Bancorp IN grew its holdings in Amgen by 296.2% during the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after buying an additional 13,460 shares in the last quarter. Atlantic Union Bankshares Corp lifted its holdings in shares of Amgen by 165.0% in the second quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock worth $2,972,000 after buying an additional 6,627 shares in the last quarter. L2 Asset Management LLC boosted its position in shares of Amgen by 50.8% during the second quarter. L2 Asset Management LLC now owns 9,837 shares of the medical research company’s stock worth $2,747,000 after acquiring an additional 3,314 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Amgen by 14.2% during the second quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock worth $26,729,000 after acquiring an additional 11,888 shares during the last quarter. Finally, CWM LLC grew its stake in Amgen by 2.9% during the second quarter. CWM LLC now owns 154,418 shares of the medical research company’s stock valued at $43,115,000 after acquiring an additional 4,306 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on AMGN. Citigroup boosted 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. Piper Sandler lifted their target price on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Scotiabank initiated coverage on Amgen in a research report on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 target price on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Amgen in a research note on Monday, December 29th. Finally, Erste Group Bank upgraded Amgen from a “hold” rating to a “buy” rating in a report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $335.35.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the transaction, the senior vice president directly owned 7,082 shares of the company’s stock, valued at $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 3,139 shares of the business’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 transaction, the senior vice president owned 7,225 shares in the company, valued at $2,436,703.50. This trade represents a 30.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 10,908 shares of company stock valued at $3,674,966. 0.69% of the stock is currently owned by insiders.

Amgen Stock Up 0.1%

Shares of NASDAQ AMGN opened at $327.64 on Monday. The firm’s 50-day moving average price is $326.08 and its 200-day moving average price is $302.97. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45. The stock has a market capitalization of $176.43 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 2.98 and a beta of 0.45. Amgen Inc. has a 12-month low of $257.05 and a 12-month high of $346.38.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping the consensus estimate of $5.01 by $0.63. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same quarter last year, the business posted $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. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be issued a $2.52 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. Amgen’s dividend payout ratio (DPR) is presently 73.57%.

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.