Sector Gamma AS Buys 13,000 Shares of Amgen Inc. $AMGN

Key Points

• Sector Gamma AS increased its stake in Amgen Inc. by 28.3% this quarter, acquiring an additional 13,000 shares, now holding a total of 59,000 shares valued at approximately $18.38 million.
• Institutional investors own about 76.50% of Amgen's stock, with substantial increases in holdings reported by firms like Capital World Investors and GAMMA Investing LLC.
• Amgen recently declared a quarterly dividend of $2.38, yielding 3.3%, with a payout ratio of 77.84% as it reported better-than-expected earnings and revenue for the last quarter.

Sector Gamma AS increased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 28.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,000 shares of the medical research company's stock after acquiring an additional 13,000 shares during the period. Amgen comprises about 5.9% of Sector Gamma AS's holdings, making the stock its 5th largest holding. Sector Gamma AS's holdings in Amgen were worth $18,381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AMGN. Beck Mack & Oliver LLC raised its position in Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock worth $1,205,000 after purchasing an additional 34 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Amgen by 0.7% during the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after buying an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC lifted its holdings in shares of Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock valued at $759,000 after purchasing an additional 35 shares in the last quarter. Affinity Capital Advisors LLC raised its position in Amgen by 4.5% in the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock valued at $246,000 after buying an additional 37 shares during the last quarter. Finally, Accredited Investors Inc. increased its position in shares of Amgen by 1.7% during the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is currently owned by insiders.

Amgen Price Performance

AMGN stock traded up $2.93 during midday trading on Tuesday, hitting $295.55. The company's stock had a trading volume of 1,846,519 shares, compared to its average volume of 2,858,331. The firm has a market capitalization of $159.11 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 2.55 and a beta of 0.49. The company has a 50 day moving average of $293.35 and a two-hundred day moving average of $293.15. 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 Inc. has a 12 month low of $253.30 and a 12 month high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter in the previous year, the business posted $4.97 earnings per share. The business'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. On average, analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared 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. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent research reports. Guggenheim assumed coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Bank of America upped their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. William Blair restated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Morgan Stanley lifted their price target on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, UBS Group cut their target price on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently 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.