Nordea Investment Management AB Buys 22,465 Shares of Amgen Inc. $AMGN

Nordea Investment Management AB grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.8% in the third quarter, Holdings Channel reports. The fund owned 2,874,403 shares of the medical research company’s stock after acquiring an additional 22,465 shares during the quarter. Amgen accounts for about 0.7% of Nordea Investment Management AB’s portfolio, making the stock its 26th largest position. Nordea Investment Management AB’s holdings in Amgen were worth $794,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Laurel Wealth Advisors LLC grew its holdings in Amgen by 27,765.8% during the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after purchasing an additional 6,676,575 shares during the period. Norges Bank bought a new position in shares of Amgen during the 2nd quarter worth $1,663,726,000. Vanguard Group Inc. increased its holdings in Amgen by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock worth $14,996,807,000 after acquiring an additional 841,117 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Amgen by 5.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock valued at $3,600,043,000 after acquiring an additional 687,735 shares during the period. Finally, WoodTrust Financial Corp lifted its holdings in Amgen by 8,223.6% during the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock valued at $166,307,000 after purchasing an additional 588,478 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMGN. Argus boosted their price target on shares of Amgen from $310.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, December 30th. Citigroup boosted their target price on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Erste Group Bank upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Piper Sandler lifted their price target on Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Finally, Morgan Stanley dropped their price objective on Amgen from $329.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $338.55.

Amgen Price Performance

NASDAQ:AMGN opened at $325.54 on Tuesday. Amgen Inc. has a 52-week low of $261.28 and a 52-week high of $346.38. The stock has a fifty day moving average of $330.33 and a 200 day moving average of $304.99. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The firm has a market capitalization of $175.30 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 2.97 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results 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 firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal 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 given a dividend of $2.52 per share. The ex-dividend date is Friday, February 13th. This is a boost from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a yield of 3.1%. Amgen’s dividend payout ratio (DPR) is presently 73.57%.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction 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 sale, the senior vice president owned 7,082 shares in the company, valued at approximately $2,381,251.68. This trade represents a 11.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Murdo Gordon sold 6,879 shares of Amgen stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the sale, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,908 shares of company stock valued at $3,674,966 in the last quarter. Insiders own 0.69% of the company’s stock.

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.