Pacific Point Advisors LLC Boosts Stock Holdings in Amgen Inc. $AMGN

Pacific Point Advisors LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 5,341 shares of the medical research company’s stock after purchasing an additional 140 shares during the period. Pacific Point Advisors LLC’s holdings in Amgen were worth $1,491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Forza Wealth Management LLC raised its holdings in Amgen by 4.1% during the second quarter. Forza Wealth Management LLC now owns 6,370 shares of the medical research company’s stock worth $1,779,000 after purchasing an additional 253 shares in the last quarter. Childress Capital Advisors LLC raised its holdings in Amgen by 29.1% during the second quarter. Childress Capital Advisors LLC now owns 2,096 shares of the medical research company’s stock worth $585,000 after purchasing an additional 472 shares in the last quarter. PFG Investments LLC raised its holdings in Amgen by 1.6% during the second quarter. PFG Investments LLC now owns 7,770 shares of the medical research company’s stock worth $2,170,000 after purchasing an additional 125 shares in the last quarter. Consolidated Portfolio Review Corp raised its holdings in Amgen by 1.2% during the second quarter. Consolidated Portfolio Review Corp now owns 5,811 shares of the medical research company’s stock worth $1,623,000 after purchasing an additional 68 shares in the last quarter. Finally, Columbia Asset Management increased its holdings in Amgen by 5.4% in the second quarter. Columbia Asset Management now owns 22,668 shares of the medical research company’s stock valued at $6,329,000 after buying an additional 1,169 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMGN. Bank of America lifted their price target on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Morgan Stanley lifted their price target on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Wall Street Zen downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, UBS Group reduced their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $309.70.

Amgen Trading Up 3.0%

Shares of AMGN opened at $282.20 on Wednesday. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $287.95 and a 200-day simple moving average of $288.57. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The stock has a market cap of $151.93 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 2.38 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period last year, the company posted $4.97 EPS. The company’s revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company 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. This represents a $9.52 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

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.