Stance Capital LLC Acquires Shares of 4,463 Amgen Inc. $AMGN

by · The Cerbat Gem

Stance Capital LLC bought a new position in Amgen Inc. (NASDAQ:AMGN – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,463 shares of the medical research company’s stock, valued at approximately $1,246,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Amgen by 1.6% in the second quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after purchasing an additional 841,117 shares in the last quarter. State Street Corp grew its stake in shares of Amgen by 0.6% in the 2nd quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock worth $8,196,775,000 after buying an additional 177,035 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Amgen by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock worth $3,619,489,000 after buying an additional 291,271 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Amgen by 5.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock valued at $3,600,043,000 after buying an additional 687,735 shares in the last quarter. Finally, Laurel Wealth Advisors LLC lifted its holdings in shares of Amgen by 27,765.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after acquiring an additional 6,676,575 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of AMGN stock opened at $317.74 on Monday. The company has a market capitalization of $171.10 billion, a P/E ratio of 24.55, a P/E/G ratio of 2.87 and a beta of 0.45. The company’s 50-day simple moving average is $316.12 and its two-hundred day simple moving average is $298.92. Amgen Inc. has a one year low of $253.30 and a one year high of $346.38. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. The firm 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 quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter 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. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be issued a $2.52 dividend. The ex-dividend date is Friday, February 13th. This is an increase from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a dividend yield of 3.2%. Amgen’s dividend payout ratio is presently 73.57%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMGN. HSBC restated a “buy” rating and set a $425.00 price objective on shares of Amgen in a research report on Wednesday. Raymond James Financial assumed coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Amgen in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Finally, Erste Group Bank upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $332.85.

Check Out Our Latest Stock Analysis on Amgen

Insiders Place Their Bets

In other news, 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 of the company’s stock, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the transaction, the senior vice president directly owned 7,225 shares in the company, valued at approximately $2,436,703.50. The trade was a 30.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,908 shares of company stock worth $3,674,966 in the last three months. Corporate insiders own 0.69% of the company’s stock.

Amgen Company Profile

(Free Report)

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.

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