Abacus FCF Advisors LLC Boosts Stock Holdings in Amgen Inc. $AMGN

Key Points

• Abacus FCF Advisors LLC increased its holdings in Amgen Inc. by 226.3% in the second quarter, now owning 62,101 shares worth approximately $17.34 million.
• GAMMA Investing LLC made a significant boost to their Amgen shares, increasing their holdings by 43,573.5% during the first quarter, now owning over 3.6 million shares valued at $1.14 billion.
• Amgen's latest earnings report showed an EPS of $6.02, surpassing analyst expectations and reflecting a 9.4% year-over-year revenue growth.

Abacus FCF Advisors LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 226.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 62,101 shares of the medical research company's stock after purchasing an additional 43,068 shares during the period. Amgen comprises 2.4% of Abacus FCF Advisors LLC's holdings, making the stock its 14th biggest position. Abacus FCF Advisors LLC's holdings in Amgen were worth $17,339,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings 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 buying an additional 3,653,205 shares in the last quarter. Nuveen LLC acquired a new stake in Amgen in the first quarter valued at approximately $688,868,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Amgen in the fourth quarter worth $193,339,000. Federated Hermes Inc. increased its position in shares of Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company's stock worth $634,680,000 after purchasing an additional 665,555 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Amgen by 128.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company's stock valued at $332,017,000 after purchasing an additional 600,096 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

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

Analyst Ratings Changes

Several brokerages recently issued reports on AMGN. Raymond James Financial assumed coverage on Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Piper Sandler upped 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. Citigroup boosted their target price on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Bank of America lifted their price objective on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley upped their target price on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of "Hold" and a consensus price target of $304.43.

Amgen Stock Performance

NASDAQ:AMGN opened at $285.41 on Friday. 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 $153.65 billion, a PE ratio of 23.34, a P/E/G ratio of 2.48 and a beta of 0.49. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17. The company has a fifty day moving average of $290.57 and a two-hundred day moving average of $290.48.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping 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 business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter in the previous year, the company earned $4.97 earnings per share. The company'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. As a group, research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced 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. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen's payout ratio is currently 77.84%.

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.

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