Trifecta Capital Advisors LLC Boosts Position in Amgen Inc. $AMGN

Key Points

• Trifecta Capital Advisors LLC increased its holdings in Amgen Inc. by 14.3% during the 2nd quarter, bringing its total shares to 14,399, valued at approximately $4,020,000.
• Amgen reported better-than-expected earnings of $6.02 per share for the quarter, surpassing analyst estimates of $5.28, with revenue of $9.18 billion.
• The company recently declared a $2.38 quarterly dividend, yielding 3.2%, and has set its fiscal year 2025 EPS guidance between $20.200 and $21.300.

Trifecta Capital Advisors LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 14.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,399 shares of the medical research company's stock after buying an additional 1,803 shares during the period. Trifecta Capital Advisors LLC's holdings in Amgen were worth $4,020,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AMGN. Fairvoy Private Wealth LLC lifted its stake in shares of Amgen by 1.1% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company's stock valued at $885,000 after purchasing an additional 35 shares during the last quarter. Crumly & Associates Inc. lifted its stake in shares of Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock valued at $320,000 after purchasing an additional 36 shares during the last quarter. Maryland Capital Advisors Inc. lifted its stake in shares of Amgen by 5.2% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock valued at $204,000 after purchasing an additional 36 shares during the last quarter. Affinity Capital Advisors LLC lifted its stake in shares of 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 purchasing an additional 37 shares during the last quarter. Finally, Accredited Investors Inc. lifted its stake in shares of Amgen by 1.7% in the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock valued at $674,000 after purchasing an additional 37 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of AMGN stock opened at $294.62 on Thursday. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The company's 50-day simple moving average is $286.90 and its two-hundred day simple moving average is $287.93. The company has a market capitalization of $158.61 billion, a P/E ratio of 24.09, a P/E/G ratio of 2.57 and a beta of 0.49. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results 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. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. 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 3.2%. Amgen's payout ratio is 77.84%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AMGN shares. Weiss Ratings raised Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Piper Sandler raised their price objective on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Wall Street Zen raised Amgen from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. Finally, Bank of America raised their price target on Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a research note on Friday, September 26th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Amgen currently has an average rating of "Hold" and a consensus target price of $309.42.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 completion of the sale, the senior vice president directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by company insiders.

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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