Alpha Cubed Investments LLC Purchases 164 Shares of Amgen Inc. $AMGN

Alpha Cubed Investments LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 0.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 19,774 shares of the medical research company’s stock after purchasing an additional 164 shares during the period. Alpha Cubed Investments LLC’s holdings in Amgen were worth $5,521,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. OLD National Bancorp IN grew its stake in shares of Amgen by 296.2% during the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after buying an additional 13,460 shares during the last quarter. Atlantic Union Bankshares Corp boosted its holdings in shares of Amgen by 165.0% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock valued at $2,972,000 after acquiring an additional 6,627 shares in the last quarter. Trinity Legacy Partners LLC grew its position in Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after acquiring an additional 612 shares during the last quarter. Founders Financial Alliance LLC increased its holdings in Amgen by 2.7% in the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock worth $491,000 after purchasing an additional 42 shares in the last quarter. Finally, Stephens Inc. AR raised its position in Amgen by 14.2% in the second quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after purchasing an additional 11,888 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares in the company, valued at $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 available at the SEC website. 0.76% of the stock is owned by insiders.

Amgen Stock Performance

Shares of Amgen stock opened at $320.20 on Monday. The business has a 50-day moving average price of $289.94 and a two-hundred day moving average price of $288.65. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company has a market cap of $172.42 billion, a P/E ratio of 26.18, a PEG ratio of 2.61 and a beta of 0.45.

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

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 annualized dividend and a dividend yield of 3.0%. Amgen’s dividend payout ratio (DPR) is 73.57%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AMGN shares. Bank of America boosted their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Raymond James Financial initiated coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Citigroup raised their price target on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Morgan Stanley reduced their price objective on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Finally, Wells Fargo & Company upped their price target on Amgen from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and an average target price of $308.83.

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.