Dakota Wealth Management Has $12.12 Million Position in Amgen Inc. $AMGN

Key Points

• Dakota Wealth Management increased its stake in Amgen Inc. by 8.7% in the 2nd quarter, holding a total of 43,417 shares valued at approximately $12.12 million.
• Amgen reported an earnings per share of $6.02 for the last quarter, exceeding analysts' estimates and showing a 9.4% increase in quarterly revenue compared to the previous year.
• The company recently declared a quarterly dividend of $2.38, which gives an annualized yield of 3.4% and a payout ratio of 77.84%.

Dakota Wealth Management raised its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,417 shares of the medical research company's stock after buying an additional 3,488 shares during the quarter. Dakota Wealth Management's holdings in Amgen were worth $12,123,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMGN. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen in the 1st quarter valued at approximately $25,000. First Pacific Financial raised its stake in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its stake in Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after acquiring an additional 85 shares during the period. Activest Wealth Management raised its stake in Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after acquiring an additional 103 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in Amgen in the 4th quarter valued at $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Down 2.6%

Shares of AMGN stock opened at $279.22 on Thursday. The stock has a market capitalization of $150.32 billion, a PE ratio of 22.83, a P/E/G ratio of 2.49 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The business has a 50-day moving average of $289.84 and a 200 day moving average of $289.92. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS 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 return on equity of 174.71% and a net margin of 18.96%.Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 3.4%. Amgen's dividend payout ratio is currently 77.84%.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm'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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent research reports. Raymond James Financial began coverage on Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Morgan Stanley raised their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Bank of America upped their target price on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. William Blair reiterated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $309.15.

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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.