Amgen Inc. $AMGN Stock Holdings Lifted by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 20.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 14,713 shares of the medical research company’s stock after acquiring an additional 2,459 shares during the period. Baker Avenue Asset Management LP’s holdings in Amgen were worth $4,108,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMGN. BlackDiamond Wealth Management LLC boosted its position in shares of Amgen by 8.6% in the 2nd quarter. BlackDiamond Wealth Management LLC now owns 895 shares of the medical research company’s stock valued at $260,000 after purchasing an additional 71 shares during the period. Bollard Group LLC lifted its stake in Amgen by 5.8% during the second quarter. Bollard Group LLC now owns 3,898 shares of the medical research company’s stock valued at $1,088,000 after buying an additional 215 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Amgen by 4.2% in the second quarter. Cerity Partners LLC now owns 423,019 shares of the medical research company’s stock worth $118,120,000 after buying an additional 16,972 shares during the period. Federated Hermes Inc. increased its position in shares of Amgen by 6.6% in the second quarter. Federated Hermes Inc. now owns 2,171,824 shares of the medical research company’s stock worth $606,395,000 after acquiring an additional 134,655 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Amgen by 25.1% in the second quarter. Gamco Investors INC. ET AL now owns 5,685 shares of the medical research company’s stock worth $1,587,000 after acquiring an additional 1,140 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent analyst reports. DZ Bank raised their price objective on shares of Amgen from $335.00 to $364.00 in a research note on Monday, November 10th. Raymond James Financial began coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. BMO Capital Markets lifted their price target on Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. HSBC increased their price objective on Amgen from $343.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Finally, Erste Group Bank upgraded Amgen from a “hold” rating to a “buy” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $335.65.

Insider Buying and Selling at Amgen

In related news, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. This trade represents a 14.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 10,908 shares of company stock valued at $3,674,966. 0.69% of the stock is currently owned by corporate insiders.

Amgen Stock Performance

NASDAQ:AMGN opened at $321.23 on Tuesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.38. The company has a market cap of $172.98 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 2.98 and a beta of 0.45. The firm’s 50-day moving average is $314.36 and its 200-day moving average is $297.78. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating the consensus estimate of $5.01 by $0.63. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

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

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.