QRG Capital Management Inc. Increases Position in Amgen Inc. $AMGN

QRG Capital Management Inc. raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,941 shares of the medical research company’s stock after buying an additional 3,242 shares during the period. QRG Capital Management Inc.’s holdings in Amgen were worth $27,904,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AMGN. Brighton Jones LLC boosted its position in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares during the period. Apella Capital LLC boosted its position in Amgen by 3.7% during the first quarter. Apella Capital LLC now owns 1,333 shares of the medical research company’s stock valued at $388,000 after buying an additional 48 shares during the period. Matrix Trust Co boosted its position in Amgen by 11.8% during the first quarter. Matrix Trust Co now owns 513 shares of the medical research company’s stock valued at $160,000 after buying an additional 54 shares during the period. Gilman Hill Asset Management LLC purchased a new stake in Amgen during the first quarter valued at about $233,000. Finally, Charles Schwab Trust Co purchased a new stake in Amgen during the first quarter valued at about $359,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.76% of the stock is currently owned by insiders.

Amgen Trading Up 0.2%

NASDAQ:AMGN opened at $297.89 on Friday. The company’s 50 day moving average price is $287.34 and its 200-day moving average price is $288.36. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The stock has a market cap of $160.37 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.58 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter in the prior year, the company posted $4.97 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen’s dividend payout ratio is presently 77.84%.

Wall Street Analyst Weigh In

AMGN has been the subject of several analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Bank of America upped their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Finally, Morgan Stanley upped their price objective on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $309.70.

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.