Compound Planning Inc. Purchases 1,343 Shares of Amgen Inc. $AMGN

Key Points

• Compound Planning Inc. increased its stake in Amgen Inc. by 25%, acquiring an additional 1,343 shares to hold a total of 6,705 shares, valued at approximately $2.09 million.
• Amgen's stock recently saw price target adjustments, with Morgan Stanley raising its target to $333 and Royal Bank of Canada lowering it to $320, while the overall consensus rating remains at "Hold".
• Amgen has announced a quarterly dividend of $2.38 per share, which reflects an annualized dividend yield of 3.2%, with 76.5% of the stock owned by institutional investors.

Compound Planning Inc. boosted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 25.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,705 shares of the medical research company's stock after acquiring an additional 1,343 shares during the quarter. Compound Planning Inc.'s holdings in Amgen were worth $2,089,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC raised its holdings in shares of Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after buying an additional 35 shares in the last quarter. Octavia Wealth Advisors LLC grew its position 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 valued at $759,000 after acquiring an additional 35 shares during the last quarter. Affinity Capital Advisors LLC raised its stake in Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after acquiring an additional 37 shares in the last quarter. Accredited Investors Inc. raised its stake in Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after acquiring an additional 37 shares in the last quarter. Finally, Rockline Wealth Management LLC lifted its holdings in shares of Amgen by 3.2% in the first quarter. Rockline Wealth Management LLC now owns 1,240 shares of the medical research company's stock worth $386,000 after acquiring an additional 38 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research reports. Royal Bank Of Canada decreased their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target for the company. Morgan Stanley raised their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, Citigroup upped their target price on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $303.76.

Amgen Trading Down 0.7%

Shares of AMGN stock opened at $293.72 on Friday. The stock has a market cap 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 stock has a 50-day moving average of $293.43 and a 200-day moving average of $293.27. 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 1-year low of $253.30 and a 1-year high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the firm earned $4.97 earnings per share. 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. On average, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is 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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