Mirae Asset Global Investments Co. Ltd. Buys 47,958 Shares of Amgen Inc. $AMGN

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 8.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 591,891 shares of the medical research company’s stock after buying an additional 47,958 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.11% of Amgen worth $167,032,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its holdings in shares of Amgen by 2.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 160,646 shares of the medical research company’s stock worth $45,334,000 after acquiring an additional 3,619 shares during the last quarter. OLD National Bancorp IN lifted its stake in Amgen by 296.2% during the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after purchasing an additional 13,460 shares during the last quarter. Atlantic Union Bankshares Corp increased its position in shares of Amgen by 165.0% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock valued at $2,972,000 after purchasing an additional 6,627 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Amgen by 2.6% during the 3rd quarter. D.A. Davidson & CO. now owns 243,054 shares of the medical research company’s stock valued at $68,590,000 after buying an additional 6,222 shares in the last quarter. Finally, Davis Capital Management bought a new stake in Amgen in the 3rd quarter worth approximately $1,841,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the sale, the senior vice president directly owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the transaction, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. This represents a 11.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,908 shares of company stock worth $3,674,966 in the last three months. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Performance

Shares of Amgen stock opened at $349.13 on Wednesday. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99. The stock has a market cap of $188.00 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 3.10 and a beta of 0.45. Amgen Inc. has a 1 year low of $261.43 and a 1 year high of $353.25. The firm’s 50-day moving average is $332.38 and its 200 day moving average is $308.43.

Amgen (NASDAQ:AMGN) last released 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. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. During the same period in the previous year, the company earned $5.58 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Sell-side analysts anticipate 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. Shareholders of record on Friday, February 13th will be given a $2.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a yield of 2.9%. Amgen’s payout ratio is 73.57%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Guggenheim lifted their target price on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Argus boosted their price objective 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. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 15th. Truist Financial upped their target price on Amgen from $318.00 to $319.00 and gave the stock a “hold” rating in a report on Thursday, January 8th. Finally, The Goldman Sachs Group increased their price objective on Amgen from $400.00 to $403.00 and gave the stock a “buy” 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $339.71.

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.