AE Wealth Management LLC Purchases 18,798 Shares of Amgen Inc. $AMGN

AE Wealth Management LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 20.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,223 shares of the medical research company’s stock after buying an additional 18,798 shares during the period. AE Wealth Management LLC’s holdings in Amgen were worth $31,106,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its holdings in shares of Amgen by 2.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 160,646 shares of the medical research company’s stock valued at $45,334,000 after acquiring an additional 3,619 shares in the last quarter. OLD National Bancorp IN increased its position in shares of Amgen by 296.2% in the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after purchasing an additional 13,460 shares during the last quarter. Atlantic Union Bankshares Corp raised its stake in Amgen by 165.0% in the second quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock valued at $2,972,000 after purchasing an additional 6,627 shares in the last quarter. D.A. Davidson & CO. lifted its position in Amgen by 2.6% during the third quarter. D.A. Davidson & CO. now owns 243,054 shares of the medical research company’s stock valued at $68,590,000 after purchasing an additional 6,222 shares during the last quarter. Finally, Davis Capital Management purchased a new position in Amgen in the 3rd quarter worth approximately $1,841,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of AMGN stock opened at $342.22 on Thursday. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. Amgen Inc. has a fifty-two week low of $261.43 and a fifty-two week high of $353.25. The firm has a market cap of $184.28 billion, a P/E ratio of 26.45, a P/E/G ratio of 3.11 and a beta of 0.45. The business’s 50 day moving average price is $332.38 and its 200-day moving average price is $308.67.

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

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be issued a dividend of $2.52 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.9%. Amgen’s dividend payout ratio (DPR) is currently 73.57%.

Insider Transactions at Amgen

In related news, EVP Murdo Gordon sold 6,879 shares of Amgen stock in a transaction that occurred 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 sale, the executive vice president directly owned 41,923 shares in the company, valued at $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction 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. This represents a 11.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 10,908 shares of company stock valued at $3,674,966. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMGN. DZ Bank upped their target price on shares of Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Amgen in a research report on Monday, December 29th. Piper Sandler boosted their target price on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Cantor Fitzgerald lifted their price target on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Morgan Stanley cut their price objective on shares of Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $339.71.

Amgen Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.