Pittenger & Anderson Inc. raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 16.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,860 shares of the medical research company’s stock after purchasing an additional 400 shares during the period. Pittenger & Anderson Inc.’s holdings in Amgen were worth $799,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in AMGN. Nuveen LLC acquired a new position in shares of Amgen during the first quarter worth $688,868,000. Federated Hermes Inc. increased its position in shares of Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock worth $634,680,000 after purchasing an additional 665,555 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Amgen by 128.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after purchasing an additional 600,096 shares in the last quarter. WoodTrust Financial Corp increased its position in shares of Amgen by 8,223.6% during the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock worth $166,307,000 after purchasing an additional 588,478 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Amgen during the second quarter worth $156,812,000. 76.50% of the stock is owned by institutional investors and hedge funds.
Amgen Price Performance
Shares of AMGN opened at $301.14 on Wednesday. The business’s 50-day moving average is $287.83 and its two-hundred day moving average is $287.15. The company has a market capitalization of $162.12 billion, a P/E ratio of 24.62, a P/E/G ratio of 2.68 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88.
Amgen Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio is presently 77.84%.
Insider Activity
In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.69% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Citigroup upped their target price on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Raymond James Financial assumed coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Piper Sandler upped their target price on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. Morgan Stanley upped their target price on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Bank of America upped their target price on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $300.94.
View Our Latest Research Report on Amgen
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.
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