Private Wealth Partners LLC Increases Holdings in Amgen Inc. $AMGN

Private Wealth Partners LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 12.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 936 shares of the medical research company’s stock after purchasing an additional 107 shares during the quarter. Private Wealth Partners LLC’s holdings in Amgen were worth $261,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AMGN. Wealth Preservation Advisors LLC purchased a new position in Amgen during the first quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC raised its position in Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Activest Wealth Management raised its position in Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 103 shares in the last quarter. Nova Wealth Management Inc. raised its position in Amgen by 12,200.0% during the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 122 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new position in Amgen during the first quarter valued at approximately $41,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Down 0.2%

Shares of AMGN opened at $291.16 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The stock’s 50 day moving average is $287.89 and its two-hundred day moving average is $287.33. The firm has a market cap of $156.75 billion, a P/E ratio of 23.81, a PEG ratio of 2.61 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period in the previous year, the business earned $4.97 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of several recent research reports. Piper Sandler lifted their price target on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a research report on Monday. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Bank of America raised their price objective on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Finally, Raymond James Financial started coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $300.94.

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.