Concord Asset Management LLC VA Has $2.64 Million Holdings in Amgen Inc. $AMGN

Concord Asset Management LLC VA increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 8.0% during the second quarter, Holdings Channel reports. The institutional investor owned 9,467 shares of the medical research company’s stock after purchasing an additional 705 shares during the quarter. Concord Asset Management LLC VA’s holdings in Amgen were worth $2,643,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. OLD National Bancorp IN raised its stake in shares of Amgen by 296.2% in the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after purchasing an additional 13,460 shares in the last quarter. KPP Advisory Services LLC raised its stake in shares of Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after purchasing an additional 2,716 shares in the last quarter. Advisor Resource Council acquired a new position in shares of Amgen in the first quarter valued at $1,331,000. Trinity Legacy Partners LLC raised its stake in shares of Amgen by 3.9% in the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after purchasing an additional 612 shares in the last quarter. Finally, DLK Investment Management LLC raised its stake in shares of Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after purchasing an additional 1,387 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMGN has been the subject of a number of recent research reports. Piper Sandler upped their target price on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup upped their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Raymond James Financial started coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $309.42.

Amgen Trading Down 1.8%

NASDAQ:AMGN opened at $290.13 on Monday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The business’s 50-day moving average price is $286.77 and its two-hundred day moving average price is $287.43. 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 firm has a market capitalization of $156.19 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the firm posted $4.97 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen’s dividend payout ratio is presently 77.84%.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.69% of the company’s stock.

Amgen Company 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.