Royal Fund Management LLC Cuts Holdings in Amgen Inc. $AMGN

Royal Fund Management LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 23.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 17,028 shares of the medical research company’s stock after selling 5,156 shares during the period. Royal Fund Management LLC’s holdings in Amgen were worth $4,810,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen during the second quarter valued at approximately $27,000. Evelyn Partners Investment Management LLP bought a new position in Amgen in the 2nd quarter valued at $32,000. Howard Hughes Medical Institute purchased a new stake in shares of Amgen during the 2nd quarter valued at $32,000. Quaker Wealth Management LLC raised 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 purchasing an additional 240 shares during the period. Finally, Nvwm LLC boosted 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 worth $42,000 after buying an additional 134 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Scotiabank began coverage on shares of Amgen in a research report on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 price objective on the stock. Guggenheim upped their price objective on Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Morgan Stanley reduced their price objective on Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, December 12th. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 15th. Finally, Royal Bank Of Canada upped their price target on Amgen from $330.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.45.

Amgen Trading Up 0.1%

Shares of AMGN stock opened at $330.41 on Monday. The stock has a market capitalization of $177.92 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 2.94 and a beta of 0.45. The company’s fifty day simple moving average is $331.56 and its two-hundred day simple moving average is $306.19. Amgen Inc. has a 1 year low of $261.43 and a 1 year high of $346.38. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.63. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the business earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The company 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 $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. Amgen’s dividend payout ratio (DPR) is 73.57%.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the sale, the senior vice president owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the sale, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 10,908 shares of company stock valued at $3,674,966. Corporate insiders own 0.76% of the company’s stock.

Amgen 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.