Amgen Inc. $AMGN Shares Bought by L2 Asset Management LLC

L2 Asset Management LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 50.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,837 shares of the medical research company’s stock after buying an additional 3,314 shares during the quarter. L2 Asset Management LLC’s holdings in Amgen were worth $2,747,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Fairvoy Private Wealth LLC lifted its holdings in Amgen by 1.1% in the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock worth $885,000 after purchasing an additional 35 shares during the period. Nicholson Wealth Management Group LLC lifted its stake in shares of Amgen by 0.6% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock worth $1,652,000 after acquiring an additional 35 shares during the period. Crumly & Associates Inc. boosted its holdings in shares of Amgen by 3.2% in the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after acquiring an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. grew its stake in shares of Amgen by 5.2% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock worth $204,000 after purchasing an additional 36 shares during the last quarter. Finally, Lion Street Advisors LLC lifted its stake in Amgen by 1.3% during the second quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock valued at $774,000 after purchasing an additional 36 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ AMGN opened at $329.89 on Monday. The stock has a 50-day simple moving average of $313.41 and a 200 day simple moving average of $297.43. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.38. The stock has a market capitalization of $177.64 billion, a PE ratio of 25.49, a P/E/G ratio of 2.98 and a beta of 0.45. 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 released its 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 for 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%.The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be issued 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 2.9%. Amgen’s payout ratio is presently 73.57%.

Insider Activity at Amgen

In related news, EVP Murdo Gordon sold 6,879 shares of Amgen stock in a transaction dated 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 sale, the executive vice president directly owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This trade represents a 14.10% 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. Also, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the sale, the senior vice president owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This represents a 11.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 10,908 shares of company stock worth $3,674,966. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on AMGN. Bank of America upped their price target on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Truist Financial started coverage on shares of Amgen in a report on Monday, November 24th. They set a “hold” rating and a $318.00 price target on the stock. Scotiabank began coverage on Amgen in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price objective for the company. The Goldman Sachs Group restated a “buy” rating on shares of Amgen in a research note on Tuesday, November 25th. Finally, Erste Group Bank raised Amgen from a “hold” rating to a “buy” rating in a research note 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $335.65.

Amgen 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.