Angeles Wealth Management LLC Acquires 297 Shares of Amgen Inc. $AMGN

Angeles Wealth Management LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 29.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,314 shares of the medical research company’s stock after purchasing an additional 297 shares during the period. Angeles Wealth Management LLC’s holdings in Amgen were worth $367,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Riverbend Wealth Management LLC increased its stake in shares of Amgen by 5.6% in the 2nd quarter. Riverbend Wealth Management LLC now owns 2,111 shares of the medical research company’s stock valued at $590,000 after purchasing an additional 112 shares during the last quarter. Stratos Investment Management LLC increased its stake in shares of Amgen by 3.2% in the 2nd quarter. Stratos Investment Management LLC now owns 22,070 shares of the medical research company’s stock valued at $6,162,000 after purchasing an additional 688 shares during the last quarter. Mattson Financial Services LLC increased its stake in shares of Amgen by 1.3% in the 2nd quarter. Mattson Financial Services LLC now owns 3,289 shares of the medical research company’s stock valued at $918,000 after purchasing an additional 42 shares during the last quarter. Oxbow Advisors LLC increased its stake in shares of Amgen by 2.1% in the 2nd quarter. Oxbow Advisors LLC now owns 11,164 shares of the medical research company’s stock valued at $3,117,000 after purchasing an additional 232 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Amgen by 8.3% in the 2nd quarter. Nordea Investment Management AB now owns 2,851,938 shares of the medical research company’s stock valued at $796,033,000 after purchasing an additional 218,789 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMGN. Piper Sandler boosted their price objective on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Raymond James Financial began coverage on Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. UBS Group reduced their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Bank of America boosted their price objective on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Finally, 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. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus price target of $305.50.

Amgen Stock Up 1.0%

Shares of AMGN opened at $298.81 on Friday. The company has a market capitalization of $160.87 billion, a PE ratio of 24.43, a PEG ratio of 2.61 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock’s 50-day moving average price is $287.14 and its two-hundred day moving average price is $287.27. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business’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 transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.76% of the stock is owned by corporate insiders.

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.