New Millennium Group LLC Acquires 279 Shares of Amgen Inc. $AMGN

New Millennium Group LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 1,328.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 300 shares of the medical research company’s stock after purchasing an additional 279 shares during the period. New Millennium Group LLC’s holdings in Amgen were worth $84,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Nuveen LLC bought a new position in Amgen during the first quarter valued at about $688,868,000. Federated Hermes Inc. increased its stake in Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock valued at $634,680,000 after acquiring an additional 665,555 shares during the period. The Manufacturers Life Insurance Company increased its stake in Amgen by 128.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock valued at $332,017,000 after acquiring an additional 600,096 shares during the period. WoodTrust Financial Corp increased its stake 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 acquiring an additional 588,478 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new position in Amgen during the second quarter valued at about $156,812,000. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMGN has been the subject of a number of recent research reports. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. UBS Group cut their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Piper Sandler boosted their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Finally, Citigroup increased their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $300.94.

Amgen Stock Up 0.1%

Shares of NASDAQ:AMGN opened at $296.70 on Wednesday. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The company has a 50 day moving average of $288.05 and a 200-day moving average of $287.76. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market cap of $159.73 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 2.61 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping the consensus estimate of $5.01 by $0.63. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, November 21st. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen’s payout ratio is currently 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.76% of the company’s stock.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.