Columbia Asset Management Purchases 1,169 Shares of Amgen Inc. $AMGN

Key Points

• Columbia Asset Management increased its stake in Amgen Inc. by 5.4%, now owning 22,668 shares valued at approximately $6,329,000.
• Amgen reported $9.18 billion in revenue for the last quarter, outperforming consensus estimates by $320 million, with earnings per share of $6.02.
• The company's annual dividend stands at $9.52, yielding 3.4%, with a current payout ratio of 77.84%.

Columbia Asset Management raised its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,668 shares of the medical research company's stock after purchasing an additional 1,169 shares during the quarter. Amgen accounts for about 1.2% of Columbia Asset Management's investment portfolio, making the stock its 18th biggest holding. Columbia Asset Management's holdings in Amgen were worth $6,329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Octavia Wealth Advisors LLC lifted its stake in Amgen by 1.5% in the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after acquiring an additional 35 shares during the period. Crumly & Associates Inc. lifted its stake in Amgen by 3.2% in the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock worth $320,000 after acquiring an additional 36 shares during the period. Maryland Capital Advisors Inc. lifted its stake in Amgen by 5.2% in the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock worth $204,000 after acquiring an additional 36 shares during the period. Affinity Capital Advisors LLC lifted its position in shares of Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock valued at $246,000 after buying an additional 37 shares during the last quarter. Finally, Accredited Investors Inc. lifted its position in shares of Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock valued at $674,000 after buying an additional 37 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company'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. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMGN. Raymond James Financial began coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating for the company. William Blair reissued an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. UBS Group decreased their price target on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Morgan Stanley increased their price target on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Piper Sandler increased 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. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $309.70.

Amgen Stock Performance

AMGN opened at $282.20 on Wednesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. 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 company has a market cap of $151.93 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 2.38 and a beta of 0.49. The firm's 50-day moving average price is $287.95 and its 200-day moving average price is $288.57.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping 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 company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the prior year, the company earned $4.97 EPS. Amgen'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. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, August 22nd. Amgen's dividend 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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