Royal Fund Management LLC Boosts Stake in Amgen Inc. $AMGN

Royal Fund Management LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 12.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,184 shares of the medical research company’s stock after purchasing an additional 2,388 shares during the period. Royal Fund Management LLC’s holdings in Amgen were worth $6,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Great Diamond Partners LLC boosted its holdings in Amgen by 0.4% during the 2nd quarter. Great Diamond Partners LLC now owns 10,573 shares of the medical research company’s stock valued at $2,952,000 after acquiring an additional 45 shares during the period. Knuff & Co LLC lifted its position in shares of Amgen by 4.5% during the second quarter. Knuff & Co LLC now owns 1,800 shares of the medical research company’s stock worth $503,000 after purchasing an additional 77 shares during the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Amgen by 4.4% during the second quarter. Kennedy Capital Management LLC now owns 2,835 shares of the medical research company’s stock valued at $792,000 after purchasing an additional 119 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Amgen by 10.6% during the second quarter. Guggenheim Capital LLC now owns 236,992 shares of the medical research company’s stock valued at $66,171,000 after purchasing an additional 22,706 shares during the period. Finally, Raab & Moskowitz Asset Management LLC grew its holdings in shares of Amgen by 6.1% in the second quarter. Raab & Moskowitz Asset Management LLC now owns 864 shares of the medical research company’s stock worth $241,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the sale, the senior vice president owned 7,225 shares of the company’s stock, valued at $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the sale, the senior vice president owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. This trade represents a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,908 shares of company stock worth $3,674,966 in the last 90 days. 0.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMGN shares. Piper Sandler lifted their price objective on shares of Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Morgan Stanley reduced their price objective on Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Bank of America lifted their target price on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 29th. Finally, Citigroup raised their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and a consensus target price of $335.65.

Amgen Trading Down 1.5%

Shares of NASDAQ:AMGN opened at $340.16 on Friday. The company has a market capitalization of $183.17 billion, a PE ratio of 26.29, a P/E/G ratio of 3.12 and a beta of 0.45. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.38. The business’s fifty day simple moving average is $312.27 and its 200-day simple moving average is $296.72.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. During the same period in the prior year, the business posted $5.58 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.8%. Amgen’s payout ratio is presently 73.57%.

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.