Trifecta Capital Advisors LLC Increases Position in Amgen Inc. $AMGN

Trifecta Capital Advisors LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 14.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,399 shares of the medical research company’s stock after acquiring an additional 1,803 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Amgen were worth $4,020,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Amgen by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after acquiring an additional 148,658 shares during the period. Royal Bank of Canada increased its holdings in shares of Amgen by 6.0% in the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock valued at $1,521,339,000 after acquiring an additional 274,488 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Amgen by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock valued at $1,387,695,000 after acquiring an additional 243,306 shares during the period. Deutsche Bank AG grew its stake in Amgen by 1.6% during the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock worth $1,017,525,000 after buying an additional 52,734 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Amgen by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock worth $940,989,000 after buying an additional 22,820 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AMGN shares. Citigroup boosted their target price on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Piper Sandler boosted their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. Morgan Stanley boosted their target price on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus target price of $309.42.

Amgen Stock Down 0.3%

Amgen stock opened at $294.62 on Thursday. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The business’s 50-day simple moving average is $286.90 and its two-hundred day simple moving average is $287.93. The company has a market cap of $158.61 billion, a PE ratio of 24.09, a PEG ratio of 2.57 and a beta of 0.49. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

Insider Activity

In other 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 value 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 $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.76% of the stock is currently owned by company 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.