Stonebridge Financial Group LLC Boosts Stake in Amgen Inc. $AMGN

Stonebridge Financial Group LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,652 shares of the medical research company’s stock after buying an additional 442 shares during the quarter. Stonebridge Financial Group LLC’s holdings in Amgen were worth $3,812,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AMGN. Nuveen LLC acquired a new position in Amgen during the first quarter worth $688,868,000. Federated Hermes Inc. raised its holdings in Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock worth $634,680,000 after purchasing an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Amgen by 128.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after purchasing an additional 600,096 shares during the last quarter. WoodTrust Financial Corp raised its holdings in Amgen by 8,223.6% during the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock worth $166,307,000 after purchasing an additional 588,478 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Amgen during the second quarter worth $156,812,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMGN shares. Piper Sandler lifted their price objective on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Raymond James Financial started coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Citigroup boosted their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $309.42.

Insider Buying and Selling

In related 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 value of $376,286.33. Following the completion of the transaction, the senior vice president directly 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 the SEC website. Insiders own 0.76% of the company’s stock.

Amgen Stock Performance

Amgen stock opened at $295.43 on Friday. The firm has a market capitalization of $159.05 billion, a P/E ratio of 24.16, a PEG ratio of 2.56 and a beta of 0.49. The stock has a fifty day moving average price of $286.91 and a 200 day moving average price of $287.79. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. 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 released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio is presently 77.84%.

About Amgen

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.