Trivium Point Advisory LLC Has $1 Million Stock Position in Amgen Inc. $AMGN

Trivium Point Advisory LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 75.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,597 shares of the medical research company’s stock after selling 11,007 shares during the period. Trivium Point Advisory LLC’s holdings in Amgen were worth $1,004,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of AMGN. Nuveen LLC acquired a new stake in Amgen in the 1st quarter valued at about $688,868,000. Federated Hermes Inc. lifted its stake in Amgen by 48.5% in the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock valued at $634,680,000 after purchasing an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Amgen by 128.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock valued at $332,017,000 after purchasing an additional 600,096 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Amgen in the 2nd quarter valued at about $156,812,000. Finally, Assenagon Asset Management S.A. lifted its stake in Amgen by 1,505.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 518,604 shares of the medical research company’s stock valued at $144,799,000 after purchasing an additional 486,299 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AMGN shares. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. UBS Group lowered their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Raymond James Financial began coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Finally, Bank of America increased their price target on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $309.70.

Amgen Stock Up 3.0%

Shares of AMGN opened at $282.20 on Wednesday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The firm’s 50 day moving average is $287.95 and its 200-day moving average is $288.57. The stock has a market capitalization of $151.93 billion, a PE ratio of 23.07, a P/E/G ratio of 2.38 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

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

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is 77.84%.

Insider Transactions at Amgen

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

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.