Amgen Inc. $AMGN Shares Acquired by Stephens Inc. AR

Key Points

• Stephens Inc. AR increased its stake in Amgen by 14.2% in Q2, owning 95,731 shares valued at approximately $26.73 million.
• Amgen reported $6.02 earnings per share, exceeding expectations, with revenue of $9.18 billion for the latest quarter, reflecting a 9.4% year-over-year increase.
• The company declared a quarterly dividend of $2.38, resulting in an annualized dividend of $9.52 and a yield of 3.2%.

Stephens Inc. AR grew its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 14.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,731 shares of the medical research company's stock after buying an additional 11,888 shares during the quarter. Stephens Inc. AR's holdings in Amgen were worth $26,729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Beverly Hills Private Wealth LLC grew its stake in shares of Amgen by 1.9% in the second quarter. Beverly Hills Private Wealth LLC now owns 1,969 shares of the medical research company's stock valued at $550,000 after buying an additional 37 shares in the last quarter. Balboa Wealth Partners grew its stake in shares of Amgen by 4.6% in the second quarter. Balboa Wealth Partners now owns 986 shares of the medical research company's stock valued at $275,000 after buying an additional 43 shares in the last quarter. Cidel Asset Management Inc. grew its stake in shares of Amgen by 3.1% in the second quarter. Cidel Asset Management Inc. now owns 3,242 shares of the medical research company's stock valued at $905,000 after buying an additional 99 shares in the last quarter. BKM Wealth Management LLC grew its stake in Amgen by 3.7% during the 2nd quarter. BKM Wealth Management LLC now owns 7,402 shares of the medical research company's stock worth $2,067,000 after purchasing an additional 267 shares in the last quarter. Finally, MB Levis & Associates LLC grew its stake in Amgen by 2.8% during the 2nd quarter. MB Levis & Associates LLC now owns 3,800 shares of the medical research company's stock worth $1,061,000 after purchasing an additional 104 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 1.0%

Amgen stock opened at $298.81 on Monday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The company has a market capitalization of $160.87 billion, a P/E ratio of 24.43, a PEG ratio of 2.64 and a beta of 0.49. The stock has a 50-day simple moving average of $287.14 and a 200-day simple moving average of $286.99.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion for 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 firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts expect 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 was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen's payout ratio is 77.84%.

Insider Transactions at Amgen

In other Amgen 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 transaction of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on AMGN. Weiss Ratings raised Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. UBS Group lowered their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Bank of America boosted their target price on Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a research note on Friday, September 26th. Morgan Stanley boosted their target price on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Raymond James Financial began coverage on Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating for the company. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Amgen has an average rating of "Hold" and a consensus price target of $305.50.

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.

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