Madison Asset Management LLC Grows Stock Position in Amgen Inc. $AMGN

Madison Asset Management LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 32.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,797 shares of the medical research company’s stock after buying an additional 2,422 shares during the quarter. Madison Asset Management LLC’s holdings in Amgen were worth $3,207,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Patrick M Sweeney & Associates Inc. raised its holdings in shares of Amgen by 6.8% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 1,108 shares of the medical research company’s stock worth $363,000 after purchasing an additional 71 shares during the period. Ground Swell Capital LLC purchased a new position in shares of Amgen in the 4th quarter worth about $305,000. West Tower Group LLC purchased a new position in shares of Amgen in the 4th quarter worth about $262,000. World Investment Advisors raised its holdings in shares of Amgen by 7.6% in the 4th quarter. World Investment Advisors now owns 20,979 shares of the medical research company’s stock worth $6,253,000 after purchasing an additional 1,486 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Amgen by 31.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 44,200 shares of the medical research company’s stock worth $14,467,000 after purchasing an additional 10,609 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMGN has been the topic of a number of research reports. Barclays initiated coverage on Amgen in a report on Friday, February 20th. They issued an “equal weight” rating and a $350.00 price objective on the stock. Daiwa Securities Group cut their price objective on Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Wednesday. Freedom Capital upgraded Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Royal Bank Of Canada raised their price objective on Amgen from $360.00 to $370.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $350.00 price objective on shares of Amgen in a report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $356.35.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $336.45 on Thursday. The company has a market cap of $181.58 billion, a P/E ratio of 23.41, a PEG 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 Inc. has a one year low of $261.43 and a one year high of $391.29. The business’s 50-day simple moving average is $351.05 and its 200 day simple moving average is $342.80.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. The business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 22.36 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

Insider Activity at Amgen

In related 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 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 filing with the SEC, which can be accessed through this link. Insiders own 0.85% of the company’s stock.

Amgen Profile

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.