Berry Wealth Group LP Buys New Holdings in Amgen Inc. $AMGN

Berry Wealth Group LP bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 865 shares of the medical research company’s stock, valued at approximately $242,000.

Other hedge funds have also bought and sold shares of the company. Laurel Wealth Advisors LLC boosted its holdings in Amgen by 27,765.8% during the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock worth $1,870,880,000 after purchasing an additional 6,676,575 shares during the last quarter. Norges Bank bought a new position in Amgen during the second quarter valued at $1,663,726,000. Nuveen LLC purchased a new stake in Amgen in the 1st quarter worth about $688,868,000. Vanguard Group Inc. increased its stake in shares of Amgen by 1.6% in the second quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock worth $14,996,807,000 after purchasing an additional 841,117 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Amgen by 5.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock valued at $3,600,043,000 after buying an additional 687,735 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMGN. DZ Bank upped their price target on Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. Raymond James Financial began coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. HSBC raised their price target on Amgen from $343.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Cantor Fitzgerald lifted their price target on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $333.74.

Insider Activity at Amgen

In related news, EVP Murdo Gordon sold 6,879 shares of Amgen stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the sale, the executive vice president directly owned 41,923 shares in the company, valued at approximately $14,120,924.09. This trade represents a 14.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 3,139 shares of the business’s stock in a transaction that occurred 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 directly owned 7,225 shares of the company’s stock, valued at $2,436,703.50. The trade was a 30.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,908 shares of company stock valued at $3,674,966 over the last ninety days. Insiders own 0.76% of the company’s stock.

Amgen Stock Performance

Shares of AMGN opened at $344.65 on Friday. 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 Inc. has a one year low of $253.30 and a one year high of $345.84. The company has a 50-day simple moving average of $307.51 and a two-hundred day simple moving average of $294.74. The firm has a market capitalization of $185.59 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.01 by $0.63. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same period last year, the business earned $5.58 EPS. Amgen’s quarterly revenue was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s dividend payout ratio is presently 73.57%.

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.