AlphaStar Capital Management LLC Invests $507,000 in Amgen Inc. $AMGN

AlphaStar Capital Management LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the second quarter, HoldingsChannel reports. The firm bought 1,815 shares of the medical research company’s stock, valued at approximately $507,000.

A number of other institutional investors also recently modified their holdings of AMGN. Vanguard Group Inc. raised its stake in Amgen by 0.3% in the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock worth $16,471,790,000 after buying an additional 148,658 shares in the last quarter. Royal Bank of Canada raised its stake in Amgen by 6.0% in the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock worth $1,521,339,000 after buying an additional 274,488 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Amgen by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock worth $1,387,695,000 after buying an additional 243,306 shares in the last quarter. Deutsche Bank AG raised its stake in Amgen by 1.6% in the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock worth $1,017,525,000 after buying an additional 52,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Amgen by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock worth $940,989,000 after buying an additional 22,820 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.76% of the stock is currently owned by insiders.

Amgen Trading Up 2.2%

NASDAQ:AMGN opened at $298.43 on Friday. The company’s 50 day moving average price is $287.75 and its 200-day moving average price is $287.51. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The stock has a market cap of $160.66 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 2.61 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS 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 firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter 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 research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. Raymond James Financial initiated coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating for the company. Wall Street Zen downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Citigroup upped their price objective on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Finally, Bank of America upped their price objective on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $300.94.

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.