Amgen Inc. $AMGN Stock Holdings Increased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,497 shares of the medical research company’s stock after purchasing an additional 1,948 shares during the period. Amgen comprises approximately 0.7% of NorthCrest Asset Manangement LLC’s holdings, making the stock its 28th largest position. NorthCrest Asset Manangement LLC’s holdings in Amgen were worth $30,883,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OLD National Bancorp IN boosted its holdings in Amgen by 296.2% in the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after purchasing an additional 13,460 shares during the period. Atlantic Union Bankshares Corp grew its position in Amgen by 165.0% during the second quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock worth $2,972,000 after buying an additional 6,627 shares in the last quarter. D.A. Davidson & CO. increased its stake in Amgen by 2.6% during the third quarter. D.A. Davidson & CO. now owns 243,054 shares of the medical research company’s stock valued at $68,590,000 after acquiring an additional 6,222 shares during the period. Davis Capital Management acquired a new position in Amgen in the 3rd quarter valued at approximately $1,841,000. Finally, L2 Asset Management LLC grew its holdings in shares of Amgen by 50.8% during the 2nd quarter. L2 Asset Management LLC now owns 9,837 shares of the medical research company’s stock worth $2,747,000 after purchasing an additional 3,314 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity

In related news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total value of $2,317,053.57. Following the sale, the executive vice president directly owned 41,923 shares in the company, valued at $14,120,924.09. This trade represents a 14.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the sale, the senior vice president directly owned 7,082 shares of the company’s stock, valued at $2,381,251.68. The trade was a 11.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,908 shares of company stock valued at $3,674,966 in the last ninety days. 0.76% of the stock is owned by insiders.

Amgen Stock Performance

Amgen stock opened at $330.41 on Monday. The company has a market cap of $177.92 billion, a PE ratio of 25.53, a PEG ratio of 2.94 and a beta of 0.45. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45. Amgen Inc. has a 1 year low of $261.43 and a 1 year high of $346.38. The company’s 50-day moving average is $331.56 and its two-hundred day moving average is $306.19.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.63. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. Amgen’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be issued a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a yield of 3.1%. This is an increase from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. Amgen’s dividend payout ratio (DPR) is 73.57%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMGN. UBS Group upgraded shares of Amgen to a “strong-buy” rating in a research report on Wednesday, January 7th. Morgan Stanley cut their target price on Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, December 12th. Daiwa Capital Markets increased their price objective on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. The Goldman Sachs Group boosted their target price on shares of Amgen from $400.00 to $403.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Finally, Citigroup increased their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $339.45.

Amgen Company 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.