Cyndeo Wealth Partners LLC Has $6.97 Million Holdings in Amgen Inc. $AMGN

Key Points

• Cyndeo Wealth Partners LLC increased its holdings in Amgen Inc. by 10.4% to a total of 24,954 shares, valued at approximately $6.97 million.
• Amgen recently reported $6.02 earnings per share for the quarter, exceeding analysts' expectations of $5.28, with revenue of $9.18 billion.
• The company declared a quarterly dividend of $2.38 per share, resulting in an annualized dividend yield of 3.2%.

Cyndeo Wealth Partners LLC raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,954 shares of the medical research company's stock after buying an additional 2,343 shares during the period. Cyndeo Wealth Partners LLC's holdings in Amgen were worth $6,967,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.76% of the stock is currently owned by company insiders.

Amgen Trading Up 0.3%

AMGN opened at $295.43 on Friday. 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 cap of $159.05 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 2.56 and a beta of 0.49. The firm has a 50 day simple moving average of $286.91 and a 200 day simple moving average of $287.79. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Amgen from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. William Blair reiterated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Bank of America upped their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a research report on Friday, September 26th. Finally, Morgan Stanley upped their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $309.42.

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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