Amgen Inc. $AMGN Position Increased by Addison Advisors LLC

Addison Advisors LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 14.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,377 shares of the medical research company’s stock after acquiring an additional 173 shares during the quarter. Addison Advisors LLC’s holdings in Amgen were worth $384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AMGN. Wealth Preservation Advisors LLC purchased a new stake in Amgen during the first quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the second quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC lifted 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 valued at $29,000 after acquiring an additional 85 shares in the last quarter. Activest Wealth Management boosted its stake in Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after purchasing an additional 103 shares during the period. Finally, Quaker Wealth Management LLC raised its stake in Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 240 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Wells Fargo & Company upped their target price on Amgen from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group decreased their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Amgen in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $308.83.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $320.20 on Monday. The business’s 50-day simple moving average is $289.94 and its 200-day simple moving average is $288.65. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The firm has a market cap of $172.42 billion, a price-to-earnings ratio of 26.18, a P/E/G 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. The firm had revenue of $9.56 billion during 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 company’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, November 21st. Amgen’s dividend payout ratio is 73.57%.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is owned by company insiders.

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.