Boston Family Office LLC Boosts Stake in Amgen Inc. $AMGN

Boston Family Office LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 13.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,112 shares of the medical research company’s stock after acquiring an additional 1,056 shares during the quarter. Boston Family Office LLC’s holdings in Amgen were worth $2,544,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Wealth Preservation Advisors LLC purchased a new position in shares of Amgen during the first quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the second quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC lifted its position in Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 85 shares during the last quarter. Evelyn Partners Investment Management LLP purchased a new position in Amgen in the 2nd quarter worth approximately $32,000. Finally, Activest Wealth Management increased its holdings in shares of 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 buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMGN shares. HSBC lifted their price objective on shares of Amgen from $343.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Citigroup raised their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Saturday. Daiwa Capital Markets increased their price objective on Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. Finally, Raymond James Financial initiated coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $333.74.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares in the company, valued at $2,436,703.50. The trade was a 30.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the transaction, the senior vice president directly owned 7,082 shares of the company’s stock, valued at $2,381,251.68. The trade was a 11.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 10,908 shares of company stock valued at $3,674,966. Insiders own 0.76% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $344.65 on Monday. The company has a market capitalization of $185.59 billion, a P/E ratio of 28.18, a PEG ratio of 2.61 and a beta of 0.45. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $345.84. 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 stock has a 50 day moving average price of $307.51 and a two-hundred day moving average price of $295.14.

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

Amgen Announces Dividend

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

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.