B. Riley Wealth Advisors Inc. Invests $1.65 Million in Amgen Inc. $AMGN

B. Riley Wealth Advisors Inc. bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,898 shares of the medical research company’s stock, valued at approximately $1,647,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AMGN. Wealth Preservation Advisors LLC bought a new position in shares of Amgen in the 1st quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new stake in Amgen during the second quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC grew its stake 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 worth $29,000 after purchasing an additional 85 shares during the period. Evelyn Partners Investment Management LLP bought a new stake in Amgen in the second quarter worth approximately $32,000. Finally, Howard Hughes Medical Institute acquired a new position in Amgen in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMGN shares. Piper Sandler increased their price target on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Scotiabank initiated coverage on shares of Amgen in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 target price on the stock. Cantor Fitzgerald raised their price target on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. DZ Bank lifted their price target on shares of Amgen from $335.00 to $364.00 in a research note on Monday, November 10th. Finally, Truist Financial began coverage on shares of Amgen in a report on Monday, November 24th. They set a “hold” rating and a $318.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $332.85.

Amgen Stock Up 0.1%

Amgen stock opened at $317.74 on Monday. The firm has a market capitalization of $171.10 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 2.87 and a beta of 0.45. The firm’s fifty day moving average price is $316.12 and its two-hundred day moving average price is $298.92. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.38. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping the consensus estimate of $5.01 by $0.63. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. During the same period in the previous year, the firm posted $5.58 earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be paid a $2.52 dividend. This represents a $10.08 annualized dividend and a dividend yield of 3.2%. This is a boost from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s dividend payout ratio (DPR) is currently 73.57%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the completion of the sale, the senior vice president directly owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This represents a 30.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Murdo Gordon sold 6,879 shares of Amgen stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the transaction, the executive vice president directly owned 41,923 shares in the company, valued at $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,908 shares of company stock worth $3,674,966 over the last 90 days. 0.69% of the stock is currently owned by corporate insiders.

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.