Wealth Alliance LLC Has $3.58 Million Stock Position in Amgen Inc. $AMGN

Wealth Alliance LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 13.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 12,817 shares of the medical research company’s stock after purchasing an additional 1,569 shares during the quarter. Wealth Alliance LLC’s holdings in Amgen were worth $3,579,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new position in shares of Amgen in the 1st quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after purchasing an additional 85 shares during the last quarter. Activest Wealth Management lifted its stake in Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after buying an additional 103 shares during the period. Finally, Quaker Wealth Management LLC grew its position in shares of Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after buying an additional 240 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN opened at $338.45 on Wednesday. The business’s 50-day simple moving average is $291.69 and its 200 day simple moving average is $289.36. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $338.55. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market capitalization of $182.25 billion, a PE ratio of 27.67, a PEG ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be paid a $2.38 dividend. The ex-dividend date is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a yield of 2.8%. Amgen’s dividend payout ratio is 73.57%.

Insiders Place Their Bets

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 stock was sold at an average price of $296.99, for a total value of $376,286.33. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMGN has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on Amgen from $405.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Cantor Fitzgerald lifted their price target on shares of Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. DZ Bank upped their price target on shares of Amgen from $335.00 to $364.00 in a report on Monday. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Raymond James Financial started coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $307.94.

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.