Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Amgen Inc. $AMGN

Mirae Asset Global Investments Co. Ltd. increased its position in Amgen Inc. (NASDAQ:AMGN) by 8.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 591,891 shares of the medical research company’s stock after buying an additional 47,958 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Amgen were worth $167,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Retirement Planning Co of New England Inc. boosted its holdings in Amgen by 8.5% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 1,072 shares of the medical research company’s stock worth $302,000 after buying an additional 84 shares during the period. EPG Wealth Management LLC grew its position in shares of Amgen by 10.6% during the third quarter. EPG Wealth Management LLC now owns 6,201 shares of the medical research company’s stock worth $1,750,000 after purchasing an additional 595 shares in the last quarter. Novare Capital Management LLC raised its stake in Amgen by 32.7% during the 3rd quarter. Novare Capital Management LLC now owns 1,299 shares of the medical research company’s stock valued at $367,000 after purchasing an additional 320 shares during the period. Little House Capital LLC lifted its holdings in Amgen by 1.9% in the 3rd quarter. Little House Capital LLC now owns 5,045 shares of the medical research company’s stock worth $1,424,000 after purchasing an additional 95 shares in the last quarter. Finally, Principle Wealth Partners LLC boosted its stake in Amgen by 2.1% in the 3rd quarter. Principle Wealth Partners LLC now owns 31,008 shares of the medical research company’s stock worth $8,750,000 after purchasing an additional 650 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.6%

Shares of Amgen stock opened at $349.13 on Wednesday. The firm’s 50 day moving average price is $332.38 and its 200-day moving average price is $308.43. The company has a market cap of $188.00 billion, a P/E ratio of 27.00, a PEG ratio of 3.10 and a beta of 0.45. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45. Amgen Inc. has a 52-week low of $261.43 and a 52-week high of $353.25.

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 analysts’ consensus estimates of $5.01 by $0.63. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. During the same period in the previous year, the company earned $5.58 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be given a $2.52 dividend. This represents a $10.08 annualized dividend and a dividend yield of 2.9%. This is a boost 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 equities analysts have recently commented on the stock. Cantor Fitzgerald boosted their target price on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Scotiabank initiated coverage on shares of Amgen in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 price target on the stock. BMO Capital Markets raised their price objective on Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Daiwa Capital Markets boosted their target price on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Finally, Truist Financial boosted their price objective on Amgen from $318.00 to $319.00 and gave the company a “hold” rating in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.71.

Insider Buying and Selling

In other news, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the sale, the executive vice president owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the transaction, the senior vice president directly owned 7,225 shares in the company, valued at approximately $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 10,908 shares of company stock worth $3,674,966. 0.69% of the stock is owned by corporate insiders.

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.