Coppell Advisory Solutions LLC Boosts Stake in Amgen Inc. $AMGN

Key Points

• Coppell Advisory Solutions LLC increased its holdings in Amgen Inc. by 153.2%, owning 14,996 shares worth approximately $4.33 million as of the latest filing.
• Amgen's earnings report showed an Earnings Per Share (EPS) of $6.02, surpassing estimates by $0.74, with a revenue of $9.18 billion reflecting a year-over-year growth of 9.4%.
• The company declared a quarterly dividend of $2.38 per share, representing an annualized dividend yield of 3.4%, with a payout ratio of 77.84%.

Coppell Advisory Solutions LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 153.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,996 shares of the medical research company's stock after buying an additional 9,073 shares during the period. Coppell Advisory Solutions LLC's holdings in Amgen were worth $4,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Canada Post Corp Registered Pension Plan acquired a new position in Amgen in the 1st quarter valued at $2,522,000. Arete Wealth Advisors LLC raised its stake in Amgen by 10.6% in the 1st quarter. Arete Wealth Advisors LLC now owns 8,211 shares of the medical research company's stock valued at $2,558,000 after purchasing an additional 785 shares during the last quarter. Strait & Sound Wealth Management LLC raised its stake in Amgen by 15.1% in the 1st quarter. Strait & Sound Wealth Management LLC now owns 5,212 shares of the medical research company's stock valued at $1,624,000 after purchasing an additional 682 shares during the last quarter. Caxton Associates LLP acquired a new position in Amgen in the 1st quarter valued at $535,000. Finally, Signature Estate & Investment Advisors LLC increased its stake in shares of Amgen by 50.5% in the 1st quarter. Signature Estate & Investment Advisors LLC now owns 5,576 shares of the medical research company's stock worth $1,737,000 after acquiring an additional 1,872 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

AMGN has been the subject of a number of recent research reports. Citigroup raised their target price on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. UBS Group lowered their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Piper Sandler raised their target price on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday, August 25th. Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They issued a "market perform" rating for the company. Finally, Morgan Stanley lifted their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $304.43.

Amgen Stock Performance

AMGN traded down $6.34 during trading on Friday, hitting $276.39. 2,143,109 shares of the stock were exchanged, compared to its average volume of 1,855,134. The firm has a market capitalization of $148.80 billion, a P/E ratio of 22.60, a PEG ratio of 2.46 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. The stock has a fifty day moving average price of $292.54 and a two-hundred day moving average price of $291.76. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS 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 analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.4%. Amgen's payout ratio is presently 77.84%.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.

Amgen 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.