Ameriflex Group Inc. Boosts Stock Holdings in Amgen Inc. $AMGN

Key Points

• Ameriflex Group Inc. significantly increased its stake in Amgen Inc. by 714.6% during the first quarter, now owning 7,845 shares valued at approximately $2.44 million.
• Amgen's recent earnings report revealed an EPS of $6.02, surpassing analyst expectations and showing a 9.4% year-over-year revenue increase, amounting to $9.18 billion.
• Amgen also announced a quarterly dividend of $2.38 per share, yielding 3.3%, with a dividend payout ratio of 77.84%.

Ameriflex Group Inc. grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 714.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,845 shares of the medical research company's stock after purchasing an additional 6,882 shares during the period. Amgen makes up 1.0% of Ameriflex Group Inc.'s portfolio, making the stock its 18th biggest holding. Ameriflex Group Inc.'s holdings in Amgen were worth $2,444,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada grew its position in shares of 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 purchasing an additional 274,488 shares in the last quarter. Beck Mack & Oliver LLC grew its position in shares of Amgen by 6.1% during the 1st quarter. Beck Mack & Oliver LLC now owns 4,905 shares of the medical research company's stock valued at $1,528,000 after purchasing an additional 282 shares in the last quarter. ICW Investment Advisors LLC grew its position in shares of Amgen by 0.9% during the 1st quarter. ICW Investment Advisors LLC now owns 8,668 shares of the medical research company's stock valued at $2,701,000 after purchasing an additional 75 shares in the last quarter. MAI Capital Management grew its position in shares of Amgen by 0.5% during the 1st quarter. MAI Capital Management now owns 71,398 shares of the medical research company's stock valued at $22,244,000 after purchasing an additional 372 shares in the last quarter. Finally, Calton & Associates Inc. grew its position in shares of Amgen by 110.0% during the 1st quarter. Calton & Associates Inc. now owns 1,678 shares of the medical research company's stock valued at $523,000 after purchasing an additional 879 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMGN has been the subject of several research reports. William Blair reiterated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Bank of America upped their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Citigroup upped their target price on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Finally, Morgan Stanley upped their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $304.43.

Amgen Trading Up 1.3%

Shares of NASDAQ:AMGN traded up $3.54 during midday trading on Friday, hitting $283.64. 2,298,297 shares of the stock traded hands, compared to its average volume of 2,793,967. The stock has a market capitalization of $152.70 billion, a PE ratio of 23.19, a P/E/G ratio of 2.47 and a beta of 0.49. The business's 50 day moving average is $293.72 and its two-hundred day moving average is $292.67. 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 Inc. has a one year low of $253.30 and a one year high of $339.17.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $2.38 per share. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.4%. Amgen's payout ratio is currently 77.84%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is owned by corporate insiders.

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.