QRG Capital Management Inc. Has $20.63 Million Holdings in Amgen Inc. $AMGN

QRG Capital Management Inc. lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 26.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,092 shares of the medical research company’s stock after selling 26,849 shares during the period. QRG Capital Management Inc.’s holdings in Amgen were worth $20,627,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of Amgen in the second quarter worth $27,000. Evelyn Partners Investment Management LLP acquired a new stake in Amgen in the 2nd quarter valued at $32,000. Howard Hughes Medical Institute bought a new stake in Amgen during the 2nd quarter worth about $32,000. Quaker Wealth Management LLC boosted its stake in shares of Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after buying an additional 240 shares during the last quarter. Finally, Nvwm LLC grew its holdings in shares of Amgen by 893.3% in the 2nd quarter. Nvwm LLC now owns 149 shares of the medical research company’s stock valued at $42,000 after acquiring an additional 134 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 0.1%

Amgen stock opened at $330.41 on Friday. The company’s 50-day moving average price is $331.56 and its two-hundred day moving average price is $306.01. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45. The stock has a market cap of $177.92 billion, a P/E ratio of 25.53, a P/E/G ratio of 2.94 and a beta of 0.45. Amgen Inc. has a twelve month low of $261.43 and a twelve month high of $346.38.

Amgen (NASDAQ:AMGN) last announced 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 company 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%.The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter 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, analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be given a dividend of $2.52 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s payout ratio is 73.57%.

Insiders Place Their Bets

In other news, EVP Murdo Gordon sold 6,879 shares of Amgen stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the sale, the executive vice president directly owned 41,923 shares in the company, valued at approximately $14,120,924.09. The trade was a 14.10% 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 firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares in the company, valued at approximately $2,436,703.50. This trade represents a 30.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,908 shares of company stock worth $3,674,966 in the last quarter. 0.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on AMGN. UBS Group raised Amgen to a “strong-buy” rating in a research report on Wednesday, January 7th. Argus increased their price objective on Amgen from $310.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, December 30th. Citigroup boosted their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Daiwa Capital Markets increased their price target on shares of Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Finally, HSBC reissued a “buy” rating and issued a $425.00 price objective on shares of Amgen in a research report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $339.45.

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.