Van ECK Associates Corp Purchases 567,400 Shares of Amgen Inc. $AMGN

Van ECK Associates Corp lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 71.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,358,092 shares of the medical research company’s stock after acquiring an additional 567,400 shares during the quarter. Van ECK Associates Corp owned approximately 0.25% of Amgen worth $383,254,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Evelyn Partners Investment Management LLP bought a new position in Amgen in the second quarter valued at about $32,000. Howard Hughes Medical Institute bought a new stake in shares of Amgen during the second quarter worth about $32,000. Cloud Capital Management LLC acquired a new position in shares of Amgen in the third quarter valued at approximately $34,000. AXS Investments LLC bought a new position in Amgen in the 3rd quarter valued at approximately $42,000. Finally, Winnow Wealth LLC acquired a new stake in Amgen during the 3rd quarter worth approximately $47,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Rothschild & Co Redburn raised their price target on shares of Amgen from $180.00 to $200.00 and gave the company a “sell” rating in a research note on Wednesday, February 18th. Piper Sandler increased their price objective on Amgen from $381.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. The Goldman Sachs Group raised their target price on Amgen from $403.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Wells Fargo & Company lifted their target price on Amgen from $325.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Amgen from $285.00 to $295.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $354.17.

Amgen Trading Up 2.0%

AMGN opened at $376.97 on Tuesday. Amgen Inc. has a twelve month low of $261.43 and a twelve month high of $391.29. The company has a fifty day moving average of $354.21 and a 200-day moving average of $323.38. The stock has a market cap of $203.21 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 3.67 and a beta of 0.45. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 5.78.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.76 by $0.53. Amgen had a net margin of 20.98% and a return on equity of 148.37%. The business had revenue of $9.87 billion for the quarter, compared to analyst estimates of $9.46 billion. During the same quarter in the previous year, the business earned $5.31 earnings per share. Amgen’s revenue for the quarter was up 8.6% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. On average, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be given a dividend of $2.52 per share. The ex-dividend date is Friday, May 15th. This represents a $10.08 annualized dividend and a dividend yield of 2.7%. Amgen’s dividend payout ratio is presently 70.84%.

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.