Quantbot Technologies LP Raises Stake in Amgen Inc. $AMGN

Key Points

• Quantbot Technologies LP increased its stake in Amgen Inc. by 229.0% in the first quarter, acquiring a total of 4,908 shares valued at approximately $1.53 million.
• Amgen's recent earnings report showed an EPS of $6.02, exceeding expectations, with a quarterly revenue increase of 9.4% year-over-year.
• The company announced a dividend of $2.38 per share, representing a 3.2% yield with a payout ratio of approximately 77.84%.

Quantbot Technologies LP raised its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 229.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,908 shares of the medical research company's stock after purchasing an additional 3,416 shares during the quarter. Quantbot Technologies LP's holdings in Amgen were worth $1,529,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Pinney & Scofield Inc. bought a new stake in Amgen in the fourth quarter valued at approximately $26,000. First Pacific Financial lifted its position in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Amgen in the fourth quarter valued at approximately $36,000. South Plains Financial Inc. bought a new position in shares of Amgen during the fourth quarter valued at approximately $37,000. Finally, Global Wealth Strategies & Associates raised its holdings in shares of Amgen by 1,388.9% during the first quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock valued at $42,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Amgen Price Performance

Shares of AMGN stock opened at $293.72 on Friday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The stock has a market cap of $158.13 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 2.55 and a beta of 0.49. The business's fifty day moving average is $293.43 and its 200 day moving average is $293.27. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

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 return on equity of 174.71% and a net margin of 18.96%.The firm 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 posted $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. 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 will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen's dividend payout ratio (DPR) is 77.84%.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Guggenheim assumed coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. Royal Bank Of Canada decreased their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Bank of America upped their target price on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Piper Sandler restated an "overweight" rating and set a $328.00 target price on shares of Amgen in a report on Friday, June 27th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $303.76.

About Amgen

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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