1,021 Shares in Amgen Inc. $AMGN Bought by 1248 Management LLC

Key Points

• 1248 Management LLC has invested $318,000 in Amgen Inc., acquiring 1,021 shares during the first quarter.
• Amgen recently reported a 9.4% year-over-year revenue increase for the quarter, with earnings per share of $6.02, surpassing estimates by $0.74.
• The company also declared a quarterly dividend of $2.38 per share, reflecting an annualized yield of 3.4% and a payout ratio of 77.84%.

1248 Management LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,021 shares of the medical research company's stock, valued at approximately $318,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Amgen by 0.3% during the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock worth $16,471,790,000 after acquiring an additional 148,658 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Amgen by 15.4% during the fourth 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 in the last quarter. Royal Bank of Canada raised its holdings in shares of Amgen by 6.0% during the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company's stock worth $1,521,339,000 after acquiring an additional 274,488 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Amgen by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company's stock valued at $1,387,695,000 after purchasing an additional 243,306 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after purchasing an additional 3,653,205 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Amgen stock traded down $6.34 during trading hours on Friday, hitting $276.39. 2,143,109 shares of the stock were exchanged, compared to its average volume of 1,853,902. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a market capitalization of $148.80 billion, a P/E ratio of 22.60, a P/E/G ratio of 2.40 and a beta of 0.49. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. The business's 50-day moving average is $292.54 and its two-hundred day moving average is $291.56.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating 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 business had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. During the same period in the prior year, the firm earned $4.97 earnings per share. Amgen's revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMGN. Guggenheim began coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective for the company. Piper Sandler lifted their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. UBS Group reduced their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Morgan Stanley lifted 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. Finally, Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $304.43.

Insider Transactions at Amgen

In other Amgen 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 transaction, the senior vice president directly owned 7,209 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.69% of the company's stock.

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.