Biondo Investment Advisors LLC Acquires 1,482 Shares of Amgen Inc. $AMGN

Key Points

• Biondo Investment Advisors LLC increased its stake in Amgen Inc. by 4.4% in the first quarter, acquiring an additional 1,482 shares, for a total of 34,799 shares valued at approximately $10.8 million.
• Amgen recently reported earnings of $6.02 per share for the latest quarter, surpassing analysts' expectations significantly and indicating a year-over-year revenue growth of 9.4%.
• The company declared a quarterly dividend of $2.38 per share, representing an annualized yield of 3.2%, with the dividend payment scheduled for September 12th.

Biondo Investment Advisors LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 34,799 shares of the medical research company's stock after purchasing an additional 1,482 shares during the period. Amgen accounts for approximately 1.5% of Biondo Investment Advisors LLC's holdings, making the stock its 27th largest position. Biondo Investment Advisors LLC's holdings in Amgen were worth $10,842,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Valueworks LLC grew its holdings in Amgen by 4.6% during the first quarter. Valueworks LLC now owns 11,126 shares of the medical research company's stock worth $3,466,000 after purchasing an additional 491 shares during the period. Phoenix Wealth Advisors grew its holdings in Amgen by 5.9% during the first quarter. Phoenix Wealth Advisors now owns 2,836 shares of the medical research company's stock worth $884,000 after purchasing an additional 157 shares during the period. Trinity Legacy Partners LLC boosted its holdings in shares of Amgen by 3.9% during the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock worth $5,026,000 after acquiring an additional 612 shares during the period. Sax Wealth Advisors LLC boosted its holdings in shares of Amgen by 7.1% during the first quarter. Sax Wealth Advisors LLC now owns 1,037 shares of the medical research company's stock worth $323,000 after acquiring an additional 69 shares during the period. Finally, Allstate Corp boosted its holdings in shares of Amgen by 15.2% during the first quarter. Allstate Corp now owns 18,378 shares of the medical research company's stock worth $5,726,000 after acquiring an additional 2,430 shares during the period. Institutional investors own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction 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 transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.76% of the company's stock.

Amgen Stock Performance

Shares of AMGN stock opened at $293.72 on Friday. The firm has a market capitalization of $158.13 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 2.55 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The business's 50-day moving average price is $293.43 and its 200-day moving average price is $293.27. 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 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 net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the business earned $4.97 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, August 22nd. Amgen's payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research analyst reports. Piper Sandler restated an "overweight" rating and set a $328.00 price objective on shares of Amgen in a report on Friday, June 27th. Mizuho boosted their price objective on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Bank of America boosted their price objective on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Finally, William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $303.76.

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.

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