QTR Family Wealth LLC Raises Stock Holdings in Amgen Inc. $AMGN

QTR Family Wealth LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 10.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 841 shares of the medical research company’s stock after buying an additional 78 shares during the quarter. QTR Family Wealth LLC’s holdings in Amgen were worth $235,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Wealth Preservation Advisors LLC purchased a new position in shares of Amgen during the 1st quarter worth approximately $25,000. First Pacific Financial lifted its stake in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after purchasing an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its position in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after buying an additional 85 shares during the period. Activest Wealth Management boosted 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 buying an additional 103 shares during the period. Finally, Nova Wealth Management Inc. grew its stake in shares of Amgen by 12,200.0% in the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after buying an additional 122 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.69% of the company’s stock.

Amgen Stock Up 3.0%

Amgen stock opened at $282.20 on Wednesday. The stock has a market cap 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 debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The stock’s fifty day moving average is $287.95 and its two-hundred day moving average is $288.57. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio is currently 77.84%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMGN. Piper Sandler increased their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Bank of America lifted their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Finally, Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and an average target price of $309.70.

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.