Wallington Asset Management LLC Boosts Position in Amgen Inc. $AMGN

Wallington Asset Management LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% in the second quarter, Holdings Channel reports. The fund owned 42,382 shares of the medical research company’s stock after purchasing an additional 408 shares during the quarter. Amgen comprises 1.7% of Wallington Asset Management LLC’s investment portfolio, making the stock its 25th biggest holding. Wallington Asset Management LLC’s holdings in Amgen were worth $11,833,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Cape ANN Savings Bank increased its position in Amgen by 6.8% during the second quarter. Cape ANN Savings Bank now owns 1,023 shares of the medical research company’s stock valued at $286,000 after acquiring an additional 65 shares during the last quarter. Corundum Group Inc. increased its position in Amgen by 80.6% in the second quarter. Corundum Group Inc. now owns 3,518 shares of the medical research company’s stock worth $982,000 after buying an additional 1,570 shares in the last quarter. Precedent Wealth Partners LLC increased its position in Amgen by 14.0% in the second quarter. Precedent Wealth Partners LLC now owns 7,136 shares of the medical research company’s stock worth $1,992,000 after buying an additional 877 shares in the last quarter. Fairvoy Private Wealth LLC increased its position in Amgen by 1.1% in the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock worth $885,000 after buying an additional 35 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. increased its position in Amgen by 44.8% in the second quarter. DHJJ Financial Advisors Ltd. now owns 320 shares of the medical research company’s stock worth $89,000 after buying an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AMGN shares. Bank of America upped their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Citigroup upped their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. UBS Group reduced their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Piper Sandler upped their price target on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amgen in a research note on Saturday, September 27th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $309.70.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the 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 transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company’s stock.

Amgen Price Performance

Shares of Amgen stock opened at $297.89 on Friday. The stock has a 50 day moving average of $287.34 and a 200 day moving average of $288.36. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The firm has a market cap of $160.37 billion, a PE ratio of 24.36, a PEG ratio of 2.58 and a beta of 0.49. 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 (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the prior year, the company earned $4.97 earnings per share. The firm’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. On average, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid 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 yield of 3.2%. Amgen’s dividend payout ratio is presently 77.84%.

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.