Geode Capital Management LLC Buys 291,271 Shares of Amgen Inc. $AMGN

Geode Capital Management LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 2.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,018,617 shares of the medical research company’s stock after purchasing an additional 291,271 shares during the quarter. Geode Capital Management LLC owned approximately 2.42% of Amgen worth $3,619,489,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Wealth Preservation Advisors LLC bought a new position in shares of Amgen during the 1st quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in Amgen in the second quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC grew its holdings in Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after purchasing an additional 85 shares during the last quarter. Activest Wealth Management increased its position in shares of Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Quaker Wealth Management LLC lifted its holdings 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 valued at $34,000 after purchasing an additional 240 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on AMGN shares. Raymond James Financial began coverage on Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. Morgan Stanley lowered their price target on Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Cantor Fitzgerald upped their price objective on shares of Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Piper Sandler reissued an “overweight” rating on shares of Amgen in a research report on Wednesday, November 5th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $307.94.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.69% of the stock is currently owned by insiders.

Amgen Stock Up 4.6%

NASDAQ:AMGN opened at $338.45 on Wednesday. The firm has a market capitalization of $182.25 billion, a P/E ratio of 27.67, a PEG ratio of 2.61 and a beta of 0.45. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $338.55. The company’s fifty day moving average price is $291.69 and its 200-day moving average price is $289.36. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be given a $2.38 dividend. The ex-dividend date is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.8%. Amgen’s dividend payout ratio is 73.57%.

About Amgen

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.