Mattern Capital Management LLC Buys 4,411 Shares of Amgen Inc. $AMGN

Mattern Capital Management LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 13.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,304 shares of the medical research company’s stock after purchasing an additional 4,411 shares during the quarter. Amgen makes up approximately 1.3% of Mattern Capital Management LLC’s portfolio, making the stock its 21st largest holding. Mattern Capital Management LLC’s holdings in Amgen were worth $10,809,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AMGN. Wealth Quarterback LLC raised its holdings in Amgen by 1.6% in the 3rd quarter. Wealth Quarterback LLC now owns 2,210 shares of the medical research company’s stock worth $624,000 after acquiring an additional 34 shares during the period. Fairvoy Private Wealth LLC boosted its holdings in Amgen by 1.1% during the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after acquiring an additional 35 shares during the period. Nicholson Wealth Management Group LLC boosted its holdings in Amgen by 0.6% during the second quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock valued at $1,652,000 after acquiring an additional 35 shares during the period. Crumly & Associates Inc. grew its position in shares of Amgen by 3.2% in the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after purchasing an additional 36 shares during the last quarter. Finally, Maryland Capital Advisors Inc. increased its stake in shares of Amgen by 5.2% in the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock worth $204,000 after purchasing an additional 36 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of AMGN stock opened at $327.31 on Friday. Amgen Inc. has a 12 month low of $257.05 and a 12 month high of $346.38. The company has a market capitalization of $176.25 billion, a P/E ratio of 25.29, a P/E/G ratio of 3.04 and a beta of 0.45. The stock has a 50 day moving average of $325.36 and a two-hundred day moving average of $302.57. 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 (NASDAQ:AMGN) last issued its earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.Amgen’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The firm 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 dividend of $2.52 per share. This is an increase from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. This represents a $10.08 annualized dividend and a dividend yield of 3.1%. Amgen’s dividend payout ratio (DPR) is presently 73.57%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their target price on Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. Wells Fargo & Company lifted their price target on Amgen from $300.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 10th. Citigroup increased their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Scotiabank began coverage on shares of Amgen in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 price objective on the stock. Finally, Truist Financial initiated coverage on shares of Amgen in a research report on Monday, November 24th. They set a “hold” rating and a $318.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $335.35.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. This trade represents a 11.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the sale, the executive vice president owned 41,923 shares in the company, valued at approximately $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. In the last three months, insiders have sold 10,908 shares of company stock worth $3,674,966. Corporate insiders own 0.76% 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.