Sax Wealth Advisors LLC Boosts Stake in Amgen Inc. $AMGN

Sax Wealth Advisors LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 20.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,254 shares of the medical research company’s stock after purchasing an additional 217 shares during the period. Sax Wealth Advisors LLC’s holdings in Amgen were worth $350,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. DMC Group LLC increased its stake in Amgen by 1.2% in the 2nd quarter. DMC Group LLC now owns 3,669 shares of the medical research company’s stock worth $1,024,000 after buying an additional 44 shares in the last quarter. BankPlus Trust Department increased its stake in Amgen by 41.6% in the 2nd quarter. BankPlus Trust Department now owns 11,663 shares of the medical research company’s stock worth $3,256,000 after buying an additional 3,425 shares in the last quarter. Independent Solutions Wealth Management LLC increased its stake in Amgen by 3.9% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 9,335 shares of the medical research company’s stock worth $2,606,000 after buying an additional 348 shares in the last quarter. Shell Asset Management Co. increased its stake in Amgen by 86.2% in the 2nd quarter. Shell Asset Management Co. now owns 16,076 shares of the medical research company’s stock worth $4,489,000 after buying an additional 7,440 shares in the last quarter. Finally, Godsey & Gibb Inc. increased its stake in Amgen by 9.9% in the 2nd quarter. Godsey & Gibb Inc. now owns 72,568 shares of the medical research company’s stock worth $20,262,000 after buying an additional 6,565 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.3%

Shares of NASDAQ:AMGN opened at $295.43 on Friday. 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 Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The company has a 50-day moving average price of $286.91 and a 200 day moving average price of $287.79. The company has a market cap of $159.05 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 2.56 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results 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. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter last year, the firm earned $4.97 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

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

Insider Activity at Amgen

In related 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 value of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. UBS Group cut 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. Cantor Fitzgerald restated a “neutral” rating and set a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Finally, Raymond James Financial started coverage on Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus target price of $309.42.

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.