Los Angeles Capital Management LLC Sells 48,961 Shares of Amgen Inc. $AMGN

Los Angeles Capital Management LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 25.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,050 shares of the medical research company’s stock after selling 48,961 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Amgen were worth $40,499,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Abel Hall LLC acquired a new stake in Amgen in the 1st quarter valued at approximately $232,000. Allworth Financial LP grew its position in Amgen by 4.9% in the first quarter. Allworth Financial LP now owns 36,755 shares of the medical research company’s stock valued at $11,451,000 after purchasing an additional 1,720 shares in the last quarter. Alps Advisors Inc. boosted its position in Amgen by 11.0% during the first quarter. Alps Advisors Inc. now owns 11,601 shares of the medical research company’s stock valued at $3,614,000 after purchasing an additional 1,152 shares during the last quarter. Finally, Phillips Financial Management LLC bought a new position in shares of Amgen in the first quarter valued at $247,000. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on AMGN shares. Raymond James Financial began coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on Amgen from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group reduced 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. Finally, Guggenheim lifted their target price on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday. Eight 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. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and an average target price of $308.83.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.76% of the company’s stock.

Amgen Trading Up 1.5%

AMGN opened at $320.20 on Friday. The stock has a market capitalization of $172.38 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 2.61 and a beta of 0.45. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. The company has a 50-day simple moving average of $289.94 and a 200 day simple moving average of $288.50.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating the consensus estimate of $5.01 by $0.63. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. During the same period in the previous year, the company earned $5.58 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal 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 given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, November 21st. Amgen’s payout ratio is currently 73.57%.

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.