Amgen Inc. $AMGN Shares Bought by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors LLC has increased its stake in Amgen Inc. by 5.3% during the 2nd quarter, owning 157,027 shares valued at approximately $43.84 million.
• Amgen's stock is currently down 1.8% and has a market capitalization of $156.19 billion, with a recent trading price around $290.13.
• Amgen recently declared a quarterly dividend of $2.38, resulting in an annual yield of 3.3%, with a payout ratio of 77.84%.

Sequoia Financial Advisors LLC raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 157,027 shares of the medical research company's stock after buying an additional 7,966 shares during the period. Sequoia Financial Advisors LLC's holdings in Amgen were worth $43,844,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new position in Amgen in the 1st quarter worth approximately $25,000. First Pacific Financial lifted its stake in Amgen by 304.5% in the 1st 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. CBIZ Investment Advisory Services LLC lifted its stake in Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after purchasing an additional 85 shares in the last quarter. Activest Wealth Management lifted its stake in Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. lifted its stake in Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock worth $38,000 after purchasing an additional 122 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 1.8%

Amgen stock opened at $290.13 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 firm has a 50 day moving average price of $286.77 and a 200 day moving average price of $287.43. The company has a market capitalization of $156.19 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted 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. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter last year, the firm earned $4.97 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently commented on AMGN shares. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Bank of America lifted their price target on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research report on Friday, September 26th. Weiss Ratings raised shares of Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Finally, Raymond James Financial started coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $309.42.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.69% of the stock is currently owned by company 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.

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