Tradewinds LLC. Purchases New Stake in Amgen Inc. $AMGN

Tradewinds LLC. purchased a new position in Amgen Inc. (NASDAQ:AMGN) during the third quarter, HoldingsChannel.com reports. The fund purchased 3,502 shares of the medical research company’s stock, valued at approximately $988,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OLD National Bancorp IN boosted its stake in Amgen by 296.2% during the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after buying an additional 13,460 shares during the period. Atlantic Union Bankshares Corp lifted its holdings in shares of Amgen by 165.0% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock worth $2,972,000 after acquiring an additional 6,627 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Amgen by 2.6% during the 3rd quarter. D.A. Davidson & CO. now owns 243,054 shares of the medical research company’s stock worth $68,590,000 after purchasing an additional 6,222 shares during the period. Davis Capital Management bought a new position in Amgen during the 3rd quarter valued at about $1,841,000. Finally, L2 Asset Management LLC raised its position in Amgen by 50.8% in the 2nd quarter. L2 Asset Management LLC now owns 9,837 shares of the medical research company’s stock worth $2,747,000 after purchasing an additional 3,314 shares during the period. 76.50% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Murdo Gordon sold 6,879 shares of the business’s 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 completion of the transaction, the executive vice president directly owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. The trade was a 14.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the senior vice president owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This trade represents a 11.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 10,908 shares of company stock worth $3,674,966. 0.76% of the stock is currently owned by company insiders.

Amgen Stock Performance

Shares of Amgen stock opened at $330.41 on Monday. 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 fifty day moving average price is $331.56 and its 200-day moving average price is $306.19. The firm 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 12 month low of $261.43 and a 12 month high of $346.38.

Amgen (NASDAQ:AMGN) last issued its earnings results 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 company had revenue of $9.56 billion for 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%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be issued a $2.52 dividend. The ex-dividend date is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio (DPR) is 73.57%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMGN. Scotiabank assumed coverage on Amgen in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 target price on the stock. Bank of America upped their price objective on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. BMO Capital Markets lifted their target price on Amgen from $335.00 to $372.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Cantor Fitzgerald upped their price target on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, The Goldman Sachs Group raised their price target on shares of Amgen from $400.00 to $403.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Two 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $339.45.

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.