Envestnet Portfolio Solutions Inc. Raises Holdings in Amgen Inc. $AMGN

Envestnet Portfolio Solutions Inc. boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,433 shares of the medical research company’s stock after acquiring an additional 264 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Amgen were worth $14,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Fairvoy Private Wealth LLC boosted its holdings in Amgen by 1.1% during the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after acquiring an additional 35 shares during the period. Crumly & Associates Inc. lifted its holdings in Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock worth $320,000 after buying an additional 36 shares during the period. Maryland Capital Advisors Inc. lifted its holdings in Amgen by 5.2% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock worth $204,000 after buying an additional 36 shares during the period. Lion Street Advisors LLC lifted its holdings in Amgen by 1.3% in the 2nd quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock worth $774,000 after buying an additional 36 shares during the period. Finally, Accredited Investors Inc. lifted its holdings in Amgen by 1.7% in the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock worth $674,000 after buying an additional 37 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction 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 $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Up 0.8%

Shares of NASDAQ:AMGN opened at $292.40 on Tuesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. The firm has a market capitalization of $157.42 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.52 and a beta of 0.49. The stock has a 50 day moving average price of $286.58 and a 200-day moving average price of $287.33. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN) last announced its earnings results 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 firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the company earned $4.97 EPS. The business’s 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. As a group, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is 77.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley increased their price objective on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Piper Sandler increased 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. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a report on Saturday. Raymond James Financial assumed coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Finally, UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and an average price target of $309.42.

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.