Baker Avenue Asset Management LP Has $4.11 Million Stock Holdings in Amgen Inc. $AMGN

Baker Avenue Asset Management LP raised its stake in Amgen Inc. (NASDAQ:AMGN) by 20.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,713 shares of the medical research company’s stock after acquiring an additional 2,459 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Amgen were worth $4,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of AMGN. Laurel Wealth Advisors LLC increased its stake in shares of Amgen by 27,765.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after buying an additional 6,676,575 shares during the period. Norges Bank bought a new position in Amgen in the second quarter valued at approximately $1,663,726,000. Vanguard Group Inc. lifted its stake in shares of Amgen by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after purchasing an additional 841,117 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Amgen by 5.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock worth $3,600,043,000 after purchasing an additional 687,735 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Amgen by 128.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after buying an additional 600,096 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

NASDAQ:AMGN opened at $321.23 on Tuesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.38. The company has a market cap of $172.98 billion, a P/E ratio of 24.82, a P/E/G ratio of 2.98 and a beta of 0.45. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The stock’s 50-day simple moving average is $314.36 and its 200 day simple moving average is $297.78.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. The firm 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 162.59% and a net margin of 19.47%.The business’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

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

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the sale, the senior vice president directly owned 7,082 shares in the company, valued at approximately $2,381,251.68. This trade represents a 11.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Murdo Gordon sold 6,879 shares of the business’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 directly owned 41,923 shares in the company, valued at approximately $14,120,924.09. This trade represents a 14.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,908 shares of company stock worth $3,674,966 over the last quarter. 0.69% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on AMGN shares. DZ Bank upped their price target on Amgen from $335.00 to $364.00 in a research note on Monday, November 10th. Scotiabank started coverage on shares of Amgen in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 target price on the stock. Wells Fargo & Company set a $400.00 price target on shares of Amgen in a report on Tuesday, November 25th. Truist Financial started coverage on Amgen in a research note on Monday, November 24th. They set a “hold” rating and a $318.00 price objective on the stock. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Amgen in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $335.65.

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.