Stance Capital LLC Invests $1.25 Million in Amgen Inc. $AMGN

Stance Capital LLC acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 4,463 shares of the medical research company’s stock, valued at approximately $1,246,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Vanguard Group Inc. raised its stake in Amgen by 1.6% in the second quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after buying an additional 841,117 shares during the last quarter. State Street Corp increased its holdings in shares of Amgen by 0.6% during the second quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock valued at $8,196,775,000 after acquiring an additional 177,035 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Amgen by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock valued at $3,619,489,000 after purchasing an additional 291,271 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 valued at $3,600,043,000 after purchasing an additional 687,735 shares during the last quarter. Finally, Laurel Wealth Advisors LLC boosted its stake in 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 worth $1,870,880,000 after purchasing an additional 6,676,575 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

NASDAQ AMGN opened at $317.74 on Monday. The firm has a market capitalization of $171.10 billion, a P/E ratio of 24.55, a PEG ratio of 2.87 and a beta of 0.45. The stock has a 50-day simple moving average of $316.12 and a two-hundred day simple moving average of $298.92. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.38.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping the consensus estimate of $5.01 by $0.63. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.Amgen’s revenue for the quarter 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. On average, equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be issued a dividend of $2.52 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date of this dividend is Friday, February 13th. This represents a $10.08 annualized dividend and a dividend yield of 3.2%. Amgen’s payout ratio is presently 73.57%.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction on 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 transaction, the senior vice president owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This trade represents a 30.29% decrease in their position. 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 three months. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Bank of America upped their price target on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Wells Fargo & Company upped their target price on Amgen from $300.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Scotiabank started coverage on Amgen in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their price target on Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. Finally, Guggenheim raised their price objective on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $332.85.

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.