Virtus Investment Advisers LLC Has $1.80 Million Holdings in Amgen Inc. $AMGN

Virtus Investment Advisers LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 391.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,430 shares of the medical research company’s stock after buying an additional 5,121 shares during the quarter. Amgen accounts for 0.6% of Virtus Investment Advisers LLC’s portfolio, making the stock its 21st largest position. Virtus Investment Advisers LLC’s holdings in Amgen were worth $1,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in AMGN. Wealth Preservation Advisors LLC purchased a new stake in shares of Amgen in the 1st quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in Amgen during the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 85 shares in the last quarter. Evelyn Partners Investment Management LLP acquired a new stake in shares of Amgen in the second quarter worth $32,000. Finally, Activest Wealth Management grew its holdings in shares of Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after buying an additional 103 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.0%

Shares of AMGN stock opened at $344.57 on Friday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $345.84. The business’s 50 day moving average is $306.32 and its two-hundred day moving average is $294.25. 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 company has a market cap of $185.54 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last released its earnings results 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. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be issued 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 yield of 2.8%. Amgen’s dividend payout ratio (DPR) is 73.57%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMGN. Morgan Stanley reduced their price objective on Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Guggenheim increased their price objective on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Daiwa Capital Markets boosted their target price on Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. HSBC upped their target price on Amgen from $343.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Finally, Raymond James Financial began coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of “Hold” and a consensus price target of $333.74.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the transaction, the senior vice president directly owned 7,082 shares of the company’s stock, valued at $2,381,251.68. The trade was a 11.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the transaction, the executive vice president owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,908 shares of company stock valued at $3,674,966 in the last 90 days. 0.76% of the stock is currently owned by 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.