Evergreen Capital Management LLC Boosts Stake in Amgen Inc. $AMGN

Key Points

• Evergreen Capital Management LLC has increased its stake in Amgen Inc. by 15.0%, now owning 9,312 shares valued at approximately $2.9 million.
• Amgen has declared a quarterly dividend of $2.38 per share, representing a 3.3% yield, to be paid to investors on September 12.
• The company achieved an EPS of $6.02 in its latest quarterly report, surpassing analyst expectations and reflecting 9.4% growth in revenue year-over-year.

Evergreen Capital Management LLC increased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,312 shares of the medical research company's stock after acquiring an additional 1,213 shares during the period. Evergreen Capital Management LLC's holdings in Amgen were worth $2,901,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new stake in Amgen during the first quarter valued at $25,000. Pinney & Scofield Inc. purchased a new stake in shares of Amgen in the fourth quarter worth $26,000. First Pacific Financial grew its position in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Amgen during the 4th quarter valued at approximately $36,000. Finally, South Plains Financial Inc. purchased a new position in Amgen during the fourth quarter valued at $37,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AMGN shares. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Mizuho boosted their target price on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Raymond James Financial started coverage on Amgen in a report on Wednesday. They issued a "market perform" rating for the company. Finally, William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. 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. According to MarketBeat, Amgen has a consensus rating of "Hold" and an average target price of $304.43.

Amgen Stock Performance

AMGN traded down $3.07 on Wednesday, reaching $283.85. The stock had a trading volume of 2,569,841 shares, compared to its average volume of 2,791,104. 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 12-month low of $253.30 and a 12-month high of $339.17. The business's 50-day moving average price is $293.63 and its two-hundred day moving average price is $292.81. The company has a market cap of $152.81 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 2.50 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations 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 period in the previous year, the business earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

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

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,267 shares of the company'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 sale, the senior vice president directly owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by 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.