Commonwealth Retirement Investments LLC Raises Holdings in Amgen Inc. $AMGN

Commonwealth Retirement Investments LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 22.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,223 shares of the medical research company’s stock after purchasing an additional 1,853 shares during the quarter. Amgen makes up 1.1% of Commonwealth Retirement Investments LLC’s investment portfolio, making the stock its 26th biggest holding. Commonwealth Retirement Investments LLC’s holdings in Amgen were worth $2,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in AMGN. Vanguard Group Inc. increased its position in shares of Amgen by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after purchasing an additional 148,658 shares during the last quarter. Royal Bank of Canada increased its position in shares of Amgen by 6.0% in the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock valued at $1,521,339,000 after purchasing an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Amgen by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock valued at $1,387,695,000 after purchasing an additional 243,306 shares during the last quarter. Deutsche Bank AG increased its holdings in Amgen by 1.6% in the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock valued at $1,017,525,000 after buying an additional 52,734 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Amgen by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock valued at $940,989,000 after buying an additional 22,820 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president directly 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 document filed with the SEC, which is available at the SEC website. Company insiders own 0.76% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $296.70 on Wednesday. The stock’s 50-day moving average is $288.05 and its two-hundred day moving average is $287.76. The firm has a market cap of $159.73 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.61 and a beta of 0.49. 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 Inc. has a 1 year low of $253.30 and a 1 year high of $335.88.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping the consensus estimate of $5.01 by $0.63. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Analysts predict 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 will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a dividend of $2.38 per share. The ex-dividend date is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen’s dividend payout ratio (DPR) is 77.84%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AMGN shares. UBS Group dropped their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Morgan Stanley increased their price objective on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Bank of America increased their price target on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Finally, Piper Sandler increased their price target on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. Six 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $300.94.

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.