Bleakley Financial Group LLC Increases Stock Position in Amgen Inc. $AMGN

Key Points

• Bleakley Financial Group LLC increased its stake in Amgen Inc. by 20.2%, now holding 27,313 shares valued at approximately $7.6 million.
• Amgen reported strong quarterly earnings with $6.02 EPS, exceeding expectations of $5.28, and its revenue reached $9.18 billion.
• The company recently declared a quarterly dividend of $2.38, resulting in an annual yield of 3.2%.

Bleakley Financial Group LLC raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 20.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,313 shares of the medical research company's stock after acquiring an additional 4,588 shares during the quarter. Bleakley Financial Group LLC's holdings in Amgen were worth $7,626,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fairvoy Private Wealth LLC increased its position in shares of Amgen by 1.1% during the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company's stock valued at $885,000 after buying an additional 35 shares during the period. Nicholson Wealth Management Group LLC increased its stake in Amgen by 0.6% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company's stock valued at $1,652,000 after purchasing an additional 35 shares in the last quarter. Crumly & Associates Inc. lifted its position in Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock valued at $320,000 after acquiring an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. boosted its stake in Amgen by 5.2% during the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock valued at $204,000 after purchasing an additional 36 shares during the last quarter. Finally, Lion Street Advisors LLC increased its holdings in shares of Amgen by 1.3% in the 2nd quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company's stock worth $774,000 after purchasing an additional 36 shares in the last quarter. 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 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 sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMGN. Piper Sandler increased their price objective on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Weiss Ratings raised shares of Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Amgen from a "hold" rating to a "buy" rating in a research report on Sunday. Bank of America lifted their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a research report on Friday, September 26th. Finally, Raymond James Financial started coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating for the company. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $300.94.

Amgen Trading Down 1.7%

AMGN stock opened at $295.98 on Thursday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The firm's 50-day moving average is $287.97 and its 200 day moving average is $287.21. The company has a market capitalization of $159.34 billion, a PE ratio of 24.20, a P/E/G ratio of 2.66 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

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 (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's payout ratio is currently 77.84%.

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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