3,773 Shares in Amgen Inc. $AMGN Acquired by ARS Wealth Advisors Group LLC

Key Points

• ARS Wealth Advisors Group LLC has made a new investment in Amgen Inc. with a stake valued at $1.05 million, purchasing 3,773 shares during the second quarter.
• Amgen's recent earnings report showed an EPS of $6.02, surpassing estimates, and a quarterly revenue of $9.18 billion, marking a 9.4% increase year-over-year.
• The company declared a quarterly dividend of $2.38, resulting in an annualized dividend yield of 3.5%, with a dividend payout ratio currently at 77.84%.

ARS Wealth Advisors Group LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,773 shares of the medical research company's stock, valued at approximately $1,053,000.

Several other hedge funds have also recently modified their holdings of the stock. Ferguson Wellman Capital Management Inc. raised its stake in Amgen by 57.1% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 299,578 shares of the medical research company's stock valued at $83,645,000 after purchasing an additional 108,842 shares during the last quarter. Baker Tilly Wealth Management LLC grew its holdings in shares of Amgen by 5.5% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 909 shares of the medical research company's stock worth $254,000 after purchasing an additional 47 shares during the period. Fulton Bank N.A. grew its holdings in shares of Amgen by 2.2% during the 2nd quarter. Fulton Bank N.A. now owns 17,992 shares of the medical research company's stock worth $5,024,000 after purchasing an additional 381 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in shares of Amgen by 0.6% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 102,549 shares of the medical research company's stock worth $30,584,000 after purchasing an additional 637 shares during the period. Finally, Community Trust & Investment Co. grew its holdings in shares of Amgen by 1.9% during the 2nd quarter. Community Trust & Investment Co. now owns 11,288 shares of the medical research company's stock worth $3,152,000 after purchasing an additional 214 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN traded down $0.34 during midday trading on Monday, reaching $285.07. The company's stock had a trading volume of 1,053,909 shares, compared to its average volume of 2,791,223. The stock has a market cap of $153.47 billion, a P/E ratio of 23.29, a PEG ratio of 2.48 and a beta of 0.49. The company has a fifty day simple moving average of $290.57 and a 200 day simple moving average of $290.29. 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 twelve month low of $253.30 and a twelve month high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the firm earned $4.97 EPS. Amgen'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. Research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.3%. Amgen's payout ratio is 77.84%.

Analysts Set New Price Targets

AMGN has been the subject of a number of research reports. Morgan Stanley boosted their target price on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. UBS Group cut their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Raymond James Financial started coverage on Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Finally, Piper Sandler upped their price target on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Amgen has an average rating of "Hold" and a consensus price target of $304.43.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction dated 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 directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.69% of the company's stock.

Amgen 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.