IMS Capital Management Purchases Shares of 1,289 Amgen Inc. $AMGN

IMS Capital Management purchased a new stake in Amgen Inc. (NASDAQ:AMGN) during the second quarter, HoldingsChannel.com reports. The firm purchased 1,289 shares of the medical research company’s stock, valued at approximately $360,000.

A number of other institutional investors also recently modified their holdings of the stock. BCS Wealth Management raised its stake in shares of Amgen by 19.2% in the second quarter. BCS Wealth Management now owns 942 shares of the medical research company’s stock worth $263,000 after acquiring an additional 152 shares during the last quarter. Norden Group LLC raised its stake in shares of Amgen by 6.1% in the second quarter. Norden Group LLC now owns 6,710 shares of the medical research company’s stock worth $1,873,000 after acquiring an additional 386 shares during the last quarter. DB Fitzpatrick & Co Inc raised its stake in shares of Amgen by 1.2% in the second quarter. DB Fitzpatrick & Co Inc now owns 3,799 shares of the medical research company’s stock worth $1,061,000 after acquiring an additional 45 shares during the last quarter. Accurate Wealth Management LLC raised its stake in shares of Amgen by 23.0% in the second quarter. Accurate Wealth Management LLC now owns 3,611 shares of the medical research company’s stock worth $1,085,000 after acquiring an additional 676 shares during the last quarter. Finally, Maseco LLP bought a new position in shares of Amgen in the second quarter worth about $193,000. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Citigroup boosted their target price on shares of Amgen from $305.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Bank of America boosted their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. UBS Group dropped their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $304.43.

Amgen Stock Up 0.3%

Amgen stock opened at $286.81 on Wednesday. The stock has a market capitalization of $154.41 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 2.48 and a beta of 0.49. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The company has a 50 day moving average of $290.23 and a 200-day moving average of $290.00.

Amgen (NASDAQ:AMGN) last released its quarterly 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. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

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

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.