Wright Investors Service Inc. Has $2.76 Million Stock Position in Amgen Inc. $AMGN

Wright Investors Service Inc. boosted its position in Amgen Inc. (NASDAQ:AMGN) by 52.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,796 shares of the medical research company’s stock after buying an additional 3,352 shares during the quarter. Wright Investors Service Inc.’s holdings in Amgen were worth $2,764,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMGN. OLD National Bancorp IN raised its stake 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 purchasing an additional 13,460 shares during the last quarter. Atlantic Union Bankshares Corp increased its holdings in shares of Amgen by 165.0% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock worth $2,972,000 after purchasing an additional 6,627 shares during the period. D.A. Davidson & CO. increased its holdings in shares of Amgen by 2.6% during the 3rd quarter. D.A. Davidson & CO. now owns 243,054 shares of the medical research company’s stock worth $68,590,000 after purchasing an additional 6,222 shares during the period. Davis Capital Management acquired a new position in shares of Amgen during the third quarter valued at about $1,841,000. Finally, L2 Asset Management LLC lifted its stake in shares of Amgen by 50.8% in the second quarter. L2 Asset Management LLC now owns 9,837 shares of the medical research company’s stock valued at $2,747,000 after buying an additional 3,314 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 0.3%

Shares of NASDAQ:AMGN opened at $330.03 on Friday. The company’s fifty day moving average is $331.36 and its 200-day moving average is $305.66. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. Amgen Inc. has a 52 week low of $261.43 and a 52 week high of $346.38. The company has a market capitalization of $177.71 billion, a PE ratio of 25.50, a P/E/G ratio of 2.93 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last released its quarterly 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. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The company’s revenue for the quarter 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. Equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be paid a $2.52 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s payout ratio is presently 73.57%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMGN shares. Scotiabank started coverage on Amgen in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price target on the stock. Citigroup boosted their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Bank of America raised their target price on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Finally, HSBC restated a “buy” rating and issued a $425.00 price objective on shares of Amgen in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Amgen currently has an average rating of “Moderate Buy” and a consensus price target of $339.45.

Insider Transactions at Amgen

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the sale, the executive vice president owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This represents a 14.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the transaction, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 10,908 shares of company stock worth $3,674,966. Insiders own 0.76% 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.