Martingale Asset Management L P Has $20.84 Million Stake in Amgen Inc. $AMGN

Martingale Asset Management L P cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 10.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,896 shares of the medical research company’s stock after selling 7,434 shares during the period. Martingale Asset Management L P’s holdings in Amgen were worth $20,841,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Pinney & Scofield Inc. purchased a new stake in shares of Amgen during the fourth quarter worth $26,000. First Pacific Financial increased its position in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after purchasing an additional 67 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Amgen in the 4th quarter worth about $36,000. South Plains Financial Inc. purchased a new stake in shares of Amgen during the 4th quarter worth about $37,000. Finally, Global Wealth Strategies & Associates lifted its holdings in shares of Amgen by 1,388.9% during the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company’s stock valued at $42,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent research reports. Bank of America boosted their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 23rd. Piper Sandler reissued an “overweight” rating and set a $328.00 target price on shares of Amgen in a research report on Friday, June 27th. Morgan Stanley upped their price target on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, UBS Group reduced their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $303.76.

Amgen Trading Up 0.3%

AMGN stock opened at $296.45 on Thursday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The business’s 50 day moving average is $293.49 and its 200-day moving average is $293.19. The firm has a market cap of $159.60 billion, a P/E ratio of 24.24, a P/E/G ratio of 2.55 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the previous year, the firm earned $4.97 EPS. Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $2.38 per share. The ex-dividend date is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen’s dividend payout ratio (DPR) is 77.84%.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is owned by corporate insiders.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.