American Alpha Advisors LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Key Points

• American Alpha Advisors LLC has acquired a new position in Amgen Inc., purchasing 1,359 shares valued at approximately $423,000.
• Amgen reported a quarterly earnings per share of $6.02, exceeding analysts' expectations of $5.28 by a significant margin.
• The company recently announced a quarterly dividend of $2.38 per share, equivalent to an annual yield of 3.3%.

American Alpha Advisors LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 1,359 shares of the medical research company's stock, valued at approximately $423,000.

Several other institutional investors have also recently bought and sold shares of the company. Beck Mack & Oliver LLC lifted its holdings in Amgen by 0.7% during the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after purchasing an additional 34 shares during the last quarter. Continuum Advisory LLC raised its position in shares of Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock valued at $1,343,000 after purchasing an additional 35 shares during the period. Octavia Wealth Advisors LLC lifted its stake in shares of Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after buying an additional 35 shares during the last quarter. Affinity Capital Advisors LLC boosted its holdings in shares of Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after buying an additional 37 shares during the period. Finally, Accredited Investors Inc. boosted its holdings in shares of Amgen by 1.7% during the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after buying an additional 37 shares during the period. Institutional investors own 76.50% of the company's stock.

Amgen Price Performance

AMGN stock traded up $1.43 during trading on Thursday, reaching $290.76. 656,022 shares of the company were exchanged, compared to its average volume of 2,872,400. The company has a market capitalization of $156.53 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 2.46 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The company has a 50-day moving average of $293.12 and a two-hundred day moving average of $292.80. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $4.97 earnings per share. As a group, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, August 22nd. Amgen's payout ratio is 77.84%.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMGN. Piper Sandler reissued an "overweight" rating and set a $328.00 price target on shares of Amgen in a report on Friday, June 27th. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Bank of America boosted their price objective on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Finally, Guggenheim began coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $303.76.

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.