Amgen Inc. $AMGN Stake Raised by Torray Investment Partners LLC

Torray Investment Partners LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,530 shares of the medical research company’s stock after purchasing an additional 2,672 shares during the period. Amgen comprises about 2.8% of Torray Investment Partners LLC’s portfolio, making the stock its 10th largest holding. Torray Investment Partners LLC’s holdings in Amgen were worth $20,468,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AMGN. Laurel Wealth Advisors LLC grew its holdings in Amgen by 27,765.8% in the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after purchasing an additional 6,676,575 shares during the period. Norges Bank acquired a new stake in Amgen in the 2nd quarter valued at $1,663,726,000. Vanguard Group Inc. increased its holdings in Amgen by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock worth $14,996,807,000 after acquiring an additional 841,117 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Amgen by 5.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock worth $3,600,043,000 after acquiring an additional 687,735 shares during the period. Finally, WoodTrust Financial Corp lifted its holdings in Amgen by 8,223.6% during the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock valued at $166,307,000 after purchasing an additional 588,478 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 2.1%

Shares of NASDAQ:AMGN opened at $320.72 on Tuesday. Amgen Inc. has a 52-week low of $257.05 and a 52-week high of $346.38. The stock has a market cap of $172.70 billion, a P/E ratio of 24.79, a PEG ratio of 2.98 and a beta of 0.45. The business has a fifty day moving average of $326.67 and a two-hundred day moving average of $303.19. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45.

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

Amgen Increases Dividend

The company also recently declared 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 represents a $10.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, February 13th. This is a boost from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio is presently 73.57%.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 890 shares of the company’s 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 transaction, the senior vice president owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This represents a 11.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction 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 transaction, the executive vice president owned 41,923 shares of the company’s stock, valued at approximately $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 three months, insiders have sold 10,908 shares of company stock worth $3,674,966. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Daiwa Capital Markets lifted their price objective on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Morgan Stanley dropped their price target on Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, December 12th. Bank of America lifted their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. HSBC reiterated a “buy” rating and issued a $425.00 target price on shares of Amgen in a research report on Wednesday, December 10th. Finally, Piper Sandler boosted their price target on shares of Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus price target of $335.35.

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.