Amgen Inc. $AMGN Stock Position Lifted by Precedent Wealth Partners LLC

Precedent Wealth Partners LLC increased its position in Amgen Inc. (NASDAQ:AMGN) by 14.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,136 shares of the medical research company’s stock after buying an additional 877 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Amgen were worth $1,992,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. KPP Advisory Services LLC grew its holdings in Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock worth $1,817,000 after acquiring an additional 2,716 shares during the period. Advisor Resource Council acquired a new position in Amgen during the first quarter worth about $1,331,000. Trinity Legacy Partners LLC grew its holdings in Amgen by 3.9% during the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after acquiring an additional 612 shares during the period. DLK Investment Management LLC grew its holdings in Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock worth $6,384,000 after acquiring an additional 1,387 shares during the period. Finally, Founders Financial Alliance LLC grew its holdings in Amgen by 2.7% during the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock worth $491,000 after acquiring an additional 42 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMGN. UBS Group decreased their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Morgan Stanley lifted their price target on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a report on Friday. Citigroup lifted their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, Piper Sandler upped their price target on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $309.70.

Amgen Trading Up 0.2%

Shares of AMGN opened at $297.89 on Friday. The stock’s fifty day simple moving average is $287.34 and its 200-day simple moving average is $288.36. The firm has a market capitalization of $160.37 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.58 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88.

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

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio is currently 77.84%.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value 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. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.76% of the company’s stock.

Amgen Company 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.