1,580 Amgen Inc. $AMGN Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management raised its stake in Amgen Inc. (NASDAQ:AMGN) by 9.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,963 shares of the medical research company’s stock after buying an additional 1,580 shares during the quarter. Ritholtz Wealth Management’s holdings in Amgen were worth $7,993,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Amgen by 4.8% during the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after buying an additional 2,261,544 shares during the period. State Street Corp grew its holdings in shares of Amgen by 38.2% during the 2nd quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock valued at $15,283,363,000 after acquiring an additional 11,656,755 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Amgen by 12.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company’s stock valued at $1,952,156,000 after acquiring an additional 605,928 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Amgen in the second quarter worth $1,831,903,000. Finally, Amundi increased its stake in shares of Amgen by 15.2% in the second quarter. Amundi now owns 3,890,189 shares of the medical research company’s stock worth $1,408,715,000 after acquiring an additional 512,883 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Top Amgen Stories

Investors following AMGN have been watching these stories:

• Positive Sentiment: Dazodalibep met the primary endpoint in the 648-patient OASIZ-301 trial, with both dosing regimens producing statistically significant reductions in systemic disease activity versus placebo over 48 weeks. Amgen also reported clinically meaningful improvements in patient-reported symptoms, potentially positioning the drug in a disease area with no approved treatments. Reuters article
• Neutral Sentiment: The positive data may improve dazodalibep’s commercial prospects, but it remains investigational; further development and regulatory review are needed before it can generate sales. Amgen announcement
• Negative Sentiment: Despite the encouraging results, some coverage reported that Amgen shares slipped, indicating investors may be taking a cautious or “sell-the-news” approach rather than immediately pricing in the drug’s longer-term potential. MSN article

Analyst Ratings Changes

AMGN has been the subject of several recent research reports. Oppenheimer reiterated an “outperform” rating on shares of Amgen in a report on Friday, October 23rd. Freedom Broker downgraded Amgen from a “buy” rating to a “hold” rating and boosted their target price for the company from $450.00 to $470.00 in a research note on Friday, November 6th. JPMorgan Chase & Co. boosted their target price on Amgen from $350.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Guggenheim upped their target price on Amgen from $378.00 to $435.00 and gave the stock a “neutral” rating in a research report on Thursday, November 5th. Finally, Truist Financial raised their price target on Amgen from $380.00 to $398.00 and gave the stock a “hold” rating in a research note on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $422.76.

Amgen Stock Performance

AMGN stock opened at $468.11 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.48 and a debt-to-equity ratio of 3.60. The company has a market capitalization of $253.21 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 3.25 and a beta of 0.43. Amgen Inc. has a 12 month low of $312.39 and a 12 month high of $483.99. The firm has a 50 day moving average of $424.39 and a two-hundred day moving average of $380.01.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share for the quarter, beating analysts’ consensus estimates of $5.79 by $0.66. The business had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.07 billion. Amgen had a net margin of 24.14% and a return on equity of 114.99%. Amgen’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.64 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 23.33 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 20th will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, November 20th. Amgen’s dividend payout ratio is presently 58.47%.

Amgen Profile

Amgen is a biotechnology company that discovers, develops, manufactures and commercializes medicines for serious illnesses. Its research and product portfolio span areas including cancer, cardiovascular disease, inflammation, bone health and rare diseases. The company’s medicines include Enbrel, Prolia, Xgeva and Repatha. Amgen serves patients and healthcare providers in the United States and markets its products internationally. Founded in 1980 and headquartered in Thousand Oaks, California, Amgen is led by Robert A. Bradway, who has served as its chief executive officer since 2012.