Massachusetts Wealth Management Buys New Position in Amgen Inc. $AMGN

Massachusetts Wealth Management bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,518 shares of the medical research company’s stock, valued at approximately $1,820,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Amgen by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after buying an additional 148,658 shares during the period. Royal Bank of Canada raised its position in shares of Amgen by 6.0% during the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock worth $1,521,339,000 after acquiring an additional 274,488 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Amgen by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock worth $1,387,695,000 after acquiring an additional 243,306 shares in the last quarter. Deutsche Bank AG raised its position in shares of Amgen by 1.6% during the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock worth $1,017,525,000 after acquiring an additional 52,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Amgen by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock worth $940,989,000 after acquiring an additional 22,820 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Down 0.3%

Shares of AMGN stock opened at $294.62 on Thursday. The business’s 50 day moving average is $286.90 and its two-hundred day moving average is $287.93. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. The company has a market capitalization of $158.61 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 2.57 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last announced its 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. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period last year, the business posted $4.97 EPS. The company’s revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen’s payout ratio is 77.84%.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 sale, the senior vice president directly owned 7,209 shares in the company, valued at $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 available through this link. 0.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AMGN shares. Raymond James Financial started coverage on Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Bank of America raised their target price on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Morgan Stanley lifted their price target 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, William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $309.42.

Amgen 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.