Acadian Asset Management LLC Purchases 114,800 Shares of Amgen Inc. $AMGN

Acadian Asset Management LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 564.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,128 shares of the medical research company’s stock after buying an additional 114,800 shares during the quarter. Acadian Asset Management LLC’s holdings in Amgen were worth $37,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in AMGN. Wealth Preservation Advisors LLC bought a new stake in Amgen in the 1st quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after purchasing an additional 85 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Amgen in the second quarter worth about $27,000. Activest Wealth Management raised its position in shares of Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares during the period. Finally, Quaker Wealth Management LLC lifted its stake in shares of Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock valued at $34,000 after buying an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $320.20 on Monday. The company’s fifty day moving average price is $289.94 and its 200-day moving average price is $288.65. 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 firm has a market capitalization of $172.42 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 2.61 and a beta of 0.45. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (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 analyst estimates of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a dividend of $2.38 per share. The ex-dividend date is Friday, November 21st. This represents a $9.52 annualized dividend and a dividend yield of 3.0%. Amgen’s dividend payout ratio is 73.57%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Saturday. Guggenheim raised their price target on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday. Bank of America boosted their price objective on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Piper Sandler restated an “overweight” rating on shares of Amgen in a research note on Wednesday. Finally, The Goldman Sachs Group reduced their target price on Amgen from $405.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $308.83.

Insider Buying and Selling at Amgen

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

About Amgen

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.