Ranch Capital Advisors Inc. Grows Stock Holdings in Amgen Inc. $AMGN

Ranch Capital Advisors Inc. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,341 shares of the medical research company’s stock after purchasing an additional 272 shares during the period. Amgen makes up approximately 1.1% of Ranch Capital Advisors Inc.’s holdings, making the stock its 27th largest position. Ranch Capital Advisors Inc.’s holdings in Amgen were worth $2,608,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. GAMMA Investing LLC raised its holdings in Amgen by 40.2% in the 1st quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company’s stock worth $3,662,000 after acquiring an additional 3,369 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Amgen in the 1st quarter worth approximately $276,000. Pure Financial Advisors LLC raised its holdings in Amgen by 19.0% in the 1st quarter. Pure Financial Advisors LLC now owns 4,170 shares of the medical research company’s stock worth $1,299,000 after acquiring an additional 667 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in Amgen by 15.3% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 6,109 shares of the medical research company’s stock worth $1,903,000 after acquiring an additional 809 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMGN. Raymond James Financial began coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Amgen in a report on Friday. UBS Group cut their target price 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. Bank of America lifted their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Finally, Morgan Stanley lifted their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $300.94.

Amgen Trading Down 0.4%

Shares of AMGN stock opened at $291.76 on Friday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The firm has a fifty day moving average price of $287.92 and a 200-day moving average price of $287.31. 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 company has a market cap of $157.07 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.53 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 (EPS) for the quarter, beating 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 firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the previous year, the firm posted $4.97 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

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

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.76% 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.