Amgen Inc. $AMGN Shares Purchased by Argent Capital Management LLC

Key Points

• Argent Capital Management LLC increased its holdings in Amgen Inc. by 3.0%, owning 86,382 shares valued at $24.1 million as of the last reporting period.
• Amgen reported a quarterly earnings per share (EPS) of $6.02, surpassing analysts' estimates, with revenue for the quarter reaching $9.18 billion, a 9.4% increase year-over-year.
• The company declared a quarterly dividend of $2.38 per share, resulting in an annualized yield of 3.3% and a payout ratio of 77.84%.

Argent Capital Management LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 86,382 shares of the medical research company's stock after buying an additional 2,502 shares during the period. Argent Capital Management LLC's holdings in Amgen were worth $24,119,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMGN. Wealth Preservation Advisors LLC purchased a new position in shares of Amgen in the 1st quarter worth about $25,000. First Pacific Financial raised its holdings in shares of 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 during the period. CBIZ Investment Advisory Services LLC raised its holdings in shares of 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 during the period. Activest Wealth Management raised its holdings in shares of 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 during the period. Finally, Heck Capital Advisors LLC purchased a new position in shares of Amgen in the 4th quarter worth about $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of AMGN opened at $286.00 on Tuesday. The firm has a market cap of $153.97 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 2.48 and a beta of 0.49. The stock has a 50 day moving average of $290.35 and a 200-day moving average of $290.02. 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 52 week low of $253.30 and a 52 week high of $339.17.

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

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. 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 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.69% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. William Blair reiterated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Citigroup raised their target price on Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. UBS Group dropped their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Finally, Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $304.43.

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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