Amgen Inc. $AMGN Shares Acquired by AdvisorNet Financial Inc

Key Points

• AdvisorNet Financial Inc increased its stake in Amgen Inc. by 177.8% in Q2, holding 5,873 shares worth approximately $1.64 million post-acquisition.
• Amgen reported $6.02 earnings per share for the last quarter, exceeding expectations, with revenue reaching $9.18 billion, representing a 9.4% increase year-over-year.
• The company recently declared a quarterly dividend of $2.38 per share, yielding 3.3%, with an annualized payout of $9.52.

AdvisorNet Financial Inc increased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 177.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,873 shares of the medical research company's stock after acquiring an additional 3,759 shares during the period. AdvisorNet Financial Inc's holdings in Amgen were worth $1,640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Amgen by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock valued at $16,471,790,000 after buying an additional 148,658 shares during the last quarter. Royal Bank of Canada grew its holdings in Amgen by 6.0% during the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company's stock valued at $1,521,339,000 after buying an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Amgen by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company's stock valued at $1,387,695,000 after buying an additional 243,306 shares during the last quarter. GAMMA Investing LLC grew its holdings in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after buying an additional 3,653,205 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Amgen by 1.6% during the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company's stock valued at $1,017,525,000 after buying an additional 52,734 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Up 0.2%

Shares of Amgen stock opened at $286.00 on Tuesday. The business has a 50-day moving average of $290.35 and a 200-day moving average of $290.02. 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 market capitalization of $153.97 billion, a PE ratio of 23.39, a P/E/G ratio of 2.48 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17.

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 for the quarter, beating the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion during 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 revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMGN. William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Bank of America increased their price target on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 23rd. Morgan Stanley increased their price target on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. UBS Group reduced their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Finally, Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $304.43.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is owned by corporate 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.

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