Amgen Inc. $AMGN Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.9% in the second quarter, HoldingsChannel reports. The fund owned 1,502,715 shares of the medical research company’s stock after buying an additional 83,110 shares during the period. Envestnet Asset Management Inc.’s holdings in Amgen were worth $419,572,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in AMGN. OLD National Bancorp IN lifted its holdings in shares of Amgen by 296.2% in the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after buying an additional 13,460 shares during the period. Trinity Legacy Partners LLC lifted its holdings in shares of Amgen by 3.9% in the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after buying an additional 612 shares during the period. Founders Financial Alliance LLC lifted its holdings in shares of Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after buying an additional 42 shares during the period. Stephens Inc. AR lifted its holdings in shares of Amgen by 14.2% in the second quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after buying an additional 11,888 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Amgen by 2.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,397 shares of the medical research company’s stock valued at $86,423,000 after buying an additional 7,308 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMGN. Bank of America upped their price objective on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a research report on Monday. Raymond James Financial initiated coverage on Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Morgan Stanley boosted their target price on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Amgen in a research report on Friday. 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $300.94.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.69% of the company’s stock.

Amgen Stock Down 0.4%

NASDAQ:AMGN opened at $291.76 on Monday. The firm has a market capitalization of $157.07 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.61 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. 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 fifty day moving average price is $287.92 and its 200 day moving average price is $287.33.

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

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

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.