Concurrent Investment Advisors LLC Boosts Position in Amgen Inc. $AMGN

Key Points

• Concurrent Investment Advisors LLC increased its stake in Amgen Inc. by 18.6%, owning a total of 25,465 shares valued at $7.11 million as of the latest SEC filing.
• Amgen's stock has received a consensus rating of "Hold" from analysts, with an average target price of $309.42.
• Amgen recently declared a quarterly dividend of $2.38, translating to an annualized yield of 3.3%, while institutional investors hold 76.50% of the company's stock.

Concurrent Investment Advisors LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 18.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,465 shares of the medical research company's stock after buying an additional 3,985 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Amgen were worth $7,110,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OLD National Bancorp IN lifted its holdings in Amgen by 296.2% during the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company's stock valued at $5,027,000 after buying an additional 13,460 shares in the last quarter. KPP Advisory Services LLC lifted its holdings in Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock valued at $1,817,000 after buying an additional 2,716 shares in the last quarter. Advisor Resource Council bought a new stake in Amgen during the 1st quarter valued at about $1,331,000. Trinity Legacy Partners LLC lifted its holdings in Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock valued at $5,026,000 after buying an additional 612 shares in the last quarter. Finally, DLK Investment Management LLC lifted its holdings in Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after buying an additional 1,387 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMGN. William Blair reiterated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Raymond James Financial started coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Morgan Stanley raised their target price 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, Citigroup raised their target price on shares of Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Eight 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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 Stock Down 1.8%

Shares of Amgen stock opened at $290.13 on Monday. The firm's 50 day moving average price is $286.77 and its 200-day moving average price is $287.43. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. The company has a market cap of $156.19 billion, a P/E ratio of 23.72, a PEG ratio of 2.52 and a beta of 0.49.

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

Amgen Dividend Announcement

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 3.3%. Amgen's payout ratio is presently 77.84%.

Amgen Company 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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