Amgen Inc. $AMGN Shares Acquired by American Investment Services Inc.

Key Points

• American Investment Services Inc. significantly increased its stake in Amgen Inc. by 170.7% during the 1st quarter, now holding a total of 5,357 shares valued at approximately $1,669,000.
• Various institutional investors have made moves in Amgen, with several increasing their holdings, leading to institutional ownership of 76.50% of the company's stock.
• Amgen's quarterly revenue for the most recent quarter rose by 9.4% year-over-year, reported at $9.18 billion, significantly surpassing analysts' expectations.

American Investment Services Inc. increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 170.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,357 shares of the medical research company's stock after acquiring an additional 3,378 shares during the period. American Investment Services Inc.'s holdings in Amgen were worth $1,669,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new position in shares of Amgen during the 4th quarter worth $26,000. First Pacific Financial raised its stake in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Amgen during the 4th quarter worth $36,000. South Plains Financial Inc. acquired a new position in shares of Amgen during the 4th quarter worth $37,000. Finally, Global Wealth Strategies & Associates raised its stake in shares of Amgen by 1,388.9% during the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Trading Up 1.0%

AMGN traded up $2.93 during midday trading on Tuesday, hitting $295.55. The company's stock had a trading volume of 1,857,214 shares, compared to its average volume of 2,862,550. The firm has a 50-day moving average price of $293.35 and a two-hundred day moving average price of $293.15. The firm has a market cap of $159.11 billion, a P/E ratio of 24.17, a PEG ratio of 2.55 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen's payout ratio is currently 77.84%.

Analyst Ratings Changes

AMGN has been the topic of several recent research reports. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Citigroup upped their price objective on Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. UBS Group reduced their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Finally, Morgan Stanley upped their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $303.76.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction 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. The trade was a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by corporate 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.