Castle Rock Wealth Management LLC Acquires 2,931 Shares of Amgen Inc. $AMGN

Key Points

• Castle Rock Wealth Management LLC increased its stake in Amgen Inc. by 50.7%, acquiring an additional 2,931 shares, bringing its total holdings to 8,708 shares valued at approximately $2.57 million.
• Amgen reported a strong quarter with an EPS of $6.02, exceeding expectations and achieving a 9.4% revenue increase year-over-year.
• Analysts have mixed ratings on Amgen, with a majority holding a "Hold" rating and an average price target of approximately $309.42.

Castle Rock Wealth Management LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 50.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,708 shares of the medical research company's stock after acquiring an additional 2,931 shares during the period. Castle Rock Wealth Management LLC's holdings in Amgen were worth $2,571,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen during the 1st quarter valued at $25,000. First Pacific Financial grew its stake in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after acquiring an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Activest Wealth Management grew its stake in Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after acquiring an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. grew its stake in Amgen by 12,200.0% during the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock valued at $38,000 after acquiring an additional 122 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMGN. Raymond James Financial began coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a "market perform" rating for the company. Bank of America lifted their price objective on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a research note on Friday, September 26th. Wall Street Zen raised shares of Amgen from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Citigroup lifted their price objective on shares of Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. Finally, Piper Sandler raised their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Amgen presently has an average rating of "Hold" and an average price target of $309.42.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by insiders.

Amgen Price Performance

Shares of AMGN stock opened at $295.54 on Wednesday. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. 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 company has a market capitalization of $159.11 billion, a P/E ratio of 24.17, a P/E/G ratio of 2.55 and a beta of 0.49. The company's 50-day simple moving average is $287.04 and its two-hundred day simple moving average is $287.88.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate 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 in the previous year, the business posted $4.97 EPS. The company's quarterly 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. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a $2.38 dividend. 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 3.2%. Amgen's payout ratio is presently 77.84%.

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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