Norges Bank Buys New Position in Amgen Inc. $AMGN

Norges Bank bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,611,965 shares of the medical research company’s stock, valued at approximately $2,164,162,000. Norges Bank owned about 1.23% of Amgen at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Dogwood Wealth Management LLC increased its stake in shares of Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 55 shares during the last quarter. Anfield Capital Management LLC increased its position in Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after purchasing an additional 70 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in Amgen during the 4th quarter worth approximately $26,000. Manning & Napier Advisors LLC increased its position in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new position in Amgen in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the completion of the sale, the senior vice president directly owned 7,009 shares in the company, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AMGN. Royal Bank Of Canada upped their price target on Amgen from $360.00 to $370.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft increased their target price on Amgen from $285.00 to $295.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Morgan Stanley set a $332.00 price objective on Amgen in a research note on Friday, May 1st. TD Cowen restated a “buy” rating on shares of Amgen in a research note on Wednesday, February 4th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $350.00 price objective on shares of Amgen in a research note on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $355.19.

Amgen Price Performance

Shares of AMGN opened at $336.79 on Friday. The stock’s fifty day moving average is $342.53 and its 200-day moving average is $345.33. Amgen Inc. has a one year low of $267.83 and a one year high of $391.29. The firm has a market capitalization of $181.77 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 3.38 and a beta of 0.44. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating the consensus estimate of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.58 billion. During the same quarter last year, the business posted $4.90 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities analysts anticipate that Amgen Inc. will post 22.37 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be given a $2.52 dividend. The ex-dividend date is Friday, May 15th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.0%. Amgen’s dividend payout ratio (DPR) is 70.15%.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.