Kestra Investment Management LLC Has $2.02 Million Stock Position in Amgen Inc. $AMGN

Key Points

• Kestra Investment Management LLC raised its stake in Amgen Inc. by 81.2% during the 1st quarter, owning 6,483 shares valued at approximately $2,020,000.
• Several institutional investors have also increased their positions in Amgen, with Focus Partners Wealth boosting their holdings by 93.9% during the 4th quarter.
• Amgen's recent earnings report indicated a quarterly revenue of $9.18 billion, surpassing the consensus estimate, and the company plans to pay a quarterly dividend of $2.38 per share.

Kestra Investment Management LLC raised its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 81.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,483 shares of the medical research company's stock after purchasing an additional 2,905 shares during the period. Kestra Investment Management LLC's holdings in Amgen were worth $2,020,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Wealth Preservation Advisors LLC bought a new position in Amgen in the 1st quarter valued at about $25,000. Pinney & Scofield Inc. bought a new position in shares of Amgen during the fourth quarter worth approximately $26,000. First Pacific Financial lifted its holdings in Amgen by 304.5% during 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 last quarter. Activest Wealth Management boosted 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 valued at $33,000 after purchasing an additional 103 shares during the period. Finally, Heck Capital Advisors LLC acquired a new position in Amgen in the 4th quarter valued at $36,000. 76.50% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company'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 directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.76% of the company's stock.

Amgen Price Performance

NASDAQ:AMGN traded down $1.46 during trading hours on Wednesday, hitting $278.51. The company's stock had a trading volume of 2,120,543 shares, compared to its average volume of 1,821,823. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a fifty day simple moving average of $293.65 and a 200-day simple moving average of $292.31. The company has a market capitalization of $149.94 billion, a P/E ratio of 12.84, a PEG ratio of 2.43 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 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $8.86 billion. During the same quarter in the prior year, the business earned $4.97 earnings per share. 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. On average, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's payout ratio is presently 77.84%.

Analysts Set New Price Targets

AMGN has been the subject of a number of research reports. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Raymond James Financial initiated coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a "market perform" rating for the company. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Citigroup boosted their price target on Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Amgen has an average rating of "Hold" and a consensus price target of $304.43.

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.