Advisors Capital Management LLC Purchases 5,791 Shares of Amgen Inc. $AMGN

Advisors Capital Management LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 9.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,440 shares of the medical research company’s stock after buying an additional 5,791 shares during the quarter. Advisors Capital Management LLC’s holdings in Amgen were worth $20,076,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. GAMMA Investing LLC boosted its position in Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after purchasing an additional 3,653,205 shares during the period. Nuveen LLC bought a new position in Amgen during the first quarter worth $688,868,000. Two Sigma Advisers LP boosted its position in Amgen by 96.9% during the fourth quarter. Two Sigma Advisers LP now owns 1,545,600 shares of the medical research company’s stock worth $402,845,000 after purchasing an additional 760,700 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Amgen during the fourth quarter worth $193,339,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Amgen by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company’s stock worth $1,336,647,000 after purchasing an additional 685,785 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Stock Down 0.5%

AMGN opened at $278.51 on Thursday. The company has a market capitalization of $149.94 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.43 and a beta of 0.49. The stock has a fifty day moving average of $293.29 and a 200-day moving average of $292.22. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (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 firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the company posted $4.97 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. UBS Group reduced their price objective 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. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Bank of America lifted their target price on Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average price target of $304.43.

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.