Profund Advisors LLC Has $16.24 Million Stock Position in Amgen Inc. $AMGN

Profund Advisors LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 8.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 58,145 shares of the medical research company’s stock after buying an additional 4,667 shares during the quarter. Amgen makes up about 0.6% of Profund Advisors LLC’s holdings, making the stock its 26th largest holding. Profund Advisors LLC’s holdings in Amgen were worth $16,235,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new position in shares of Amgen during the first quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new stake in Amgen during the 2nd quarter worth about $27,000. CBIZ Investment Advisory Services LLC boosted its position in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after acquiring an additional 85 shares during the period. Activest Wealth Management increased its holdings in shares of Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares during the period. Finally, Quaker Wealth Management LLC lifted its position in shares of Amgen by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after purchasing an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler reiterated an “overweight” rating on shares of Amgen in a research note on Wednesday. Bank of America upped their price target on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, UBS Group cut their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $308.83.

Amgen Trading Up 1.5%

Amgen stock opened at $320.20 on Friday. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The company’s fifty day moving average price is $289.94 and its two-hundred day moving average price is $288.57. 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 has a market capitalization of $172.42 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.01 by $0.63. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, November 21st. Amgen’s dividend payout ratio (DPR) is 73.57%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Amgen Company 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.