Palogic Value Management L.P. Has $2.35 Million Holdings in Amgen Inc. $AMGN

Palogic Value Management L.P. boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,548 shares of the medical research company’s stock after buying an additional 369 shares during the quarter. Palogic Value Management L.P.’s holdings in Amgen were worth $2,352,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Amgen by 0.3% during the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock worth $16,471,790,000 after buying an additional 148,658 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Amgen by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company’s stock worth $1,336,647,000 after buying an additional 685,785 shares during the last quarter. Royal Bank of Canada increased its position in Amgen by 6.0% during the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock worth $1,521,339,000 after buying an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Amgen by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock worth $1,387,695,000 after buying an additional 243,306 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after buying an additional 3,653,205 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 1.2%

Shares of AMGN stock opened at $280.19 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock has a market cap of $150.84 billion, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. The stock has a 50 day simple moving average of $293.87 and a 200 day simple moving average of $292.40. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.4%. Amgen’s dividend payout ratio is presently 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Piper Sandler boosted their price target on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Finally, Citigroup upped their target price on Amgen from $305.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $304.43.

Amgen 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.