Rexford Capital Inc. Purchases New Shares in Amgen Inc. $AMGN

Rexford Capital Inc. purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,382 shares of the medical research company’s stock, valued at approximately $1,503,000. Amgen accounts for about 1.2% of Rexford Capital Inc.’s holdings, making the stock its 12th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen in the first quarter worth about $25,000. CBIZ Investment Advisory Services LLC grew its stake in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 85 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Amgen during the 2nd quarter worth approximately $27,000. Activest Wealth Management raised its position in shares of Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Evelyn Partners Investment Management LLP purchased a new position in shares of Amgen during the 2nd quarter valued at approximately $32,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Murdo Gordon sold 6,879 shares of the firm’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 sale, the executive vice president directly owned 41,923 shares in the company, valued at $14,120,924.09. This trade represents a 14.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the stock in a transaction on Wednesday, November 12th. The stock was 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 directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,908 shares of company stock valued at $3,674,966 in the last three months. 0.76% of the stock is currently owned by corporate insiders.

Amgen Trading Up 0.1%

Shares of NASDAQ AMGN opened at $317.74 on Friday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.38. The company has a market cap of $171.10 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 2.87 and a beta of 0.45. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45. The stock’s 50 day simple moving average is $316.12 and its 200 day simple moving average is $298.78.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, topping the consensus estimate of $5.01 by $0.63. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. During the same period last year, the company earned $5.58 earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on AMGN. HSBC restated a “buy” rating and issued a $425.00 price target on shares of Amgen in a research note on Wednesday. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. The Goldman Sachs Group restated a “buy” rating on shares of Amgen in a research note on Tuesday, November 25th. Piper Sandler lifted their price target on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Finally, Erste Group Bank upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus target price of $332.85.

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.