Amgen Inc. $AMGN Shares Bought by Convergence Financial LLC

Convergence Financial LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 21.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,561 shares of the medical research company’s stock after buying an additional 277 shares during the quarter. Convergence Financial LLC’s holdings in Amgen were worth $436,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. OLD National Bancorp IN raised its stake in shares of Amgen by 296.2% in the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after buying an additional 13,460 shares in the last quarter. Trinity Legacy Partners LLC raised its position in Amgen by 3.9% in the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after acquiring an additional 612 shares in the last quarter. Founders Financial Alliance LLC lifted its holdings in Amgen by 2.7% in the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after acquiring an additional 42 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Amgen by 14.2% in the 2nd quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock worth $26,729,000 after purchasing an additional 11,888 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Amgen by 2.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,397 shares of the medical research company’s stock worth $86,423,000 after purchasing an additional 7,308 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Amgen Stock Up 0.1%

Shares of Amgen stock opened at $296.70 on Wednesday. The firm has a market cap of $159.73 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 2.61 and a beta of 0.49. The stock has a 50-day simple moving average of $288.05 and a 200-day simple moving average of $287.76. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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 firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. Amgen’s dividend payout ratio is presently 77.84%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent research reports. Raymond James Financial assumed coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Bank of America lifted their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Piper Sandler raised their price objective on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, Morgan Stanley raised their price target on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus target price of $300.94.

Amgen Company 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.