Profund Advisors LLC Increases Position in Amgen Inc. $AMGN

Key Points

• Profund Advisors LLC increased its Amgen stake by 11% in the fourth quarter, bringing its holdings to 62,287 shares valued at about $20.4 million.
• Amgen reported better-than-expected first-quarter results, with EPS of $5.15 versus $4.77 expected and revenue of $8.62 billion, up 5.8% year over year.
• The company also announced a quarterly dividend of $2.52 per share, implying an annualized yield of 3.1%, while analysts currently have a consensus Hold rating and an average price target of $356.15.

Profund Advisors LLC raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,287 shares of the medical research company's stock after purchasing an additional 6,150 shares during the quarter. Amgen accounts for approximately 0.6% of Profund Advisors LLC's portfolio, making the stock its 22nd largest position. Profund Advisors LLC's holdings in Amgen were worth $20,387,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Anfield Capital Management LLC raised its position in Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after purchasing an additional 70 shares during the period. Dogwood Wealth Management LLC raised its position in Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after purchasing an additional 55 shares during the period. Board of the Pension Protection Fund purchased a new stake in Amgen in the fourth quarter valued at approximately $26,000. Manning & Napier Advisors LLC raised its position in Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after purchasing an additional 32 shares during the period. Finally, Olistico Wealth LLC purchased a new stake in Amgen in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.85% of the company's stock.

Amgen Stock Performance

NASDAQ AMGN opened at $324.39 on Tuesday. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. Amgen Inc. has a 1 year low of $267.83 and a 1 year high of $391.29. The company has a market capitalization of $175.07 billion, a PE ratio of 22.57, a P/E/G ratio of 3.28 and a beta of 0.44. The company has a fifty day moving average of $348.31 and a two-hundred day moving average of $343.59.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.58 billion. During the same period in the prior year, the company earned $4.90 earnings per share. The business's revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, analysts expect that Amgen Inc. will post 22.37 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, May 15th. Amgen's dividend payout ratio is presently 70.15%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMGN. Erste Group Bank reissued a "hold" rating on shares of Amgen in a research report on Tuesday, May 5th. Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Royal Bank Of Canada boosted their target price on Amgen from $360.00 to $370.00 and gave the company an "outperform" rating in a research report on Tuesday, April 7th. Piper Sandler cut their target price on Amgen from $432.00 to $427.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Freedom Capital upgraded shares of Amgen from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $356.15.

Amgen Profile

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.