Ascent Group LLC Acquires 3,491 Shares of Amgen Inc. $AMGN

Key Points

• Ascent Group LLC increased its holdings in Amgen Inc. by 30.5%, acquiring an additional 3,491 shares during the first quarter, raising its total ownership to 14,939 shares valued at approximately $4.65 million.
• Amgen reported a quarterly earnings per share (EPS) of $6.02, exceeding analysts' expectations and showing a 9.4% year-over-year revenue growth to $9.18 billion.
• The company has declared a quarterly dividend of $2.38 per share, representing an annualized yield of 3.4%, with a payout ratio currently at 77.84%.

Ascent Group LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 30.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,939 shares of the medical research company's stock after acquiring an additional 3,491 shares during the quarter. Ascent Group LLC's holdings in Amgen were worth $4,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares during the period. Forum Financial Management LP lifted its holdings in shares of Amgen by 0.7% during the fourth quarter. Forum Financial Management LP now owns 352,784 shares of the medical research company's stock valued at $91,950,000 after acquiring an additional 2,411 shares during the period. Algert Global LLC lifted its holdings in shares of Amgen by 25.8% during the fourth quarter. Algert Global LLC now owns 1,035 shares of the medical research company's stock valued at $270,000 after acquiring an additional 212 shares during the period. Focus Partners Wealth lifted its holdings in shares of Amgen by 93.9% during the fourth quarter. Focus Partners Wealth now owns 187,862 shares of the medical research company's stock valued at $49,857,000 after acquiring an additional 90,978 shares during the period. Finally, Gotham Asset Management LLC lifted its holdings in shares of Amgen by 1.6% during the fourth quarter. Gotham Asset Management LLC now owns 21,738 shares of the medical research company's stock valued at $5,666,000 after acquiring an additional 333 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of AMGN stock opened at $283.64 on Monday. The stock has a 50-day moving average price of $293.85 and a 200 day moving average price of $292.56. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The firm has a market cap of $152.70 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 2.46 and a beta of 0.49. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter last year, the business earned $4.97 earnings per share. The company's revenue 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 EPS for the current year.

Amgen Dividend Announcement

The company 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 $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.4%. Amgen's payout ratio is presently 77.84%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Raymond James Financial assumed coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating for the company. Bank of America raised their target price on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Morgan Stanley raised their target price on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $304.43.

Insider Buying and Selling

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 value of $376,286.33. Following the sale, 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.69% of the company's stock.

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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.