City Center Advisors LLC Purchases 498 Shares of Amgen Inc. $AMGN

City Center Advisors LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 69.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,215 shares of the medical research company’s stock after acquiring an additional 498 shares during the period. City Center Advisors LLC’s holdings in Amgen were worth $339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. GAMMA Investing LLC raised its stake in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares during the period. Nuveen LLC bought a new stake in Amgen during the 1st quarter worth approximately $688,868,000. Two Sigma Advisers LP raised its stake in Amgen by 96.9% during the 4th quarter. Two Sigma Advisers LP now owns 1,545,600 shares of the medical research company’s stock worth $402,845,000 after acquiring an additional 760,700 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Amgen during the 4th quarter worth approximately $193,339,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Amgen by 15.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company’s stock worth $1,336,647,000 after acquiring an additional 685,785 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 2.2%

Shares of AMGN opened at $276.39 on Friday. The company’s fifty day moving average is $292.54 and its 200 day moving average is $291.76. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17. The stock has a market capitalization of $148.80 billion, a PE ratio of 22.60, a P/E/G ratio of 2.46 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter in the previous year, the business posted $4.97 earnings per share. Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts expect 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 was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Raymond James Financial initiated coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. Piper Sandler increased their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $304.43.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is owned by insiders.

Amgen Company Profile

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.