Amgen Inc. $AMGN Shares Bought by Sowell Financial Services LLC

Key Points

• Sowell Financial Services LLC has increased its stake in Amgen Inc. by 13.1%, owning 11,785 shares worth approximately $3.29 million as of the end of the second quarter.
• Amgen reported a quarterly earnings EPS of $6.02, exceeding the consensus estimate of $5.28, along with a revenue of $9.18 billion for the quarter.
• The company declared a quarterly dividend of $2.38 per share, with an annualized dividend of $9.52 and a dividend yield of 3.3%.

Sowell Financial Services LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 13.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,785 shares of the medical research company's stock after acquiring an additional 1,366 shares during the quarter. Sowell Financial Services LLC's holdings in Amgen were worth $3,291,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMGN. Wealth Preservation Advisors LLC purchased a new stake in Amgen during the first quarter worth about $25,000. First Pacific Financial lifted its holdings 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 valued at $28,000 after buying an additional 67 shares during the period. CBIZ Investment Advisory Services LLC raised its stake in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after acquiring an additional 85 shares during the period. Pinney & Scofield Inc. purchased a new position in shares of Amgen during the fourth quarter valued at about $26,000. Finally, Activest Wealth Management boosted its stake in Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after buying an additional 103 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $0.59 during mid-day trading on Monday, reaching $286.00. The company had a trading volume of 3,050,077 shares, compared to its average volume of 2,339,546. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The company's 50-day moving average price is $290.35 and its 200-day moving average price is $290.02. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The firm has a market cap of $153.97 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 2.48 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion during 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 business's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen's payout ratio is currently 77.84%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group decreased their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Bank of America increased their price objective on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Finally, Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They issued a "market perform" rating on the stock. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Amgen presently has a consensus rating of "Hold" and a consensus target price of $304.43.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.69% of the stock is currently owned by company insiders.

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.