Colton Groome Financial Advisors LLC Increases Stock Position in Amgen Inc. $AMGN

Key Points

• Colton Groome Financial Advisors LLC increased its holdings in Amgen Inc. by 22.0% during the second quarter, bringing their total shares to 5,221, valued at approximately $1.458 million.
• Amgen reported earnings of $6.02 per share, beating analyst estimates and showing a 9.4% increase in quarterly revenue year-over-year, totaling $9.18 billion.
• The company announced a quarterly dividend of $2.38 per share, translating to an annualized payout of $9.52 and a dividend yield of 3.5%.

Colton Groome Financial Advisors LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 22.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,221 shares of the medical research company's stock after buying an additional 943 shares during the quarter. Colton Groome Financial Advisors LLC's holdings in Amgen were worth $1,458,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AMGN. GAMMA Investing LLC lifted its holdings in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after purchasing an additional 3,653,205 shares during the last quarter. Nuveen LLC bought a new position in Amgen during the 1st quarter valued at approximately $688,868,000. Federated Hermes Inc. raised its stake in Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company's stock valued at $634,680,000 after buying an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Amgen by 128.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company's stock valued at $332,017,000 after buying an additional 600,096 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Amgen in the second quarter worth $156,812,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction dated 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 trade represents a 14.95% decrease in their ownership of the stock. 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.

Amgen Trading Down 2.9%

Shares of AMGN stock opened at $271.18 on Friday. 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 12-month low of $253.30 and a 12-month high of $335.88. The stock has a market capitalization of $145.99 billion, a P/E ratio of 22.17, a P/E/G ratio of 2.43 and a beta of 0.49. The firm's 50 day moving average is $289.29 and its 200 day moving average is $289.53.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.97 EPS. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued 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 yield of 3.5%. Amgen's dividend payout ratio is currently 77.84%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AMGN shares. Bank of America lifted their price target on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Citigroup lifted their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a report on Wednesday. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Piper Sandler raised their price target on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Finally, Morgan Stanley upped their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of "Hold" and a consensus target price of $309.15.

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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