Eaton Financial Holdings Company LLC Buys New Holdings in Amgen Inc. $AMGN

Key Points

• Eaton Financial Holdings Company LLC has acquired a new position in Amgen Inc., purchasing 2,205 shares valued at approximately $616,000 in the second quarter of 2023.
• Institutional investors now hold 76.50% of Amgen's stock, indicating strong interest from larger financial firms in the company's performance.
• Amgen recently reported a quarterly EPS of $6.02, surpassing analysts' expectations of $5.28, with revenues of $9.18 billion, reflecting a year-over-year growth of 9.4%.

Eaton Financial Holdings Company LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,205 shares of the medical research company's stock, valued at approximately $616,000.

Several other institutional investors and hedge funds have also bought and sold shares of AMGN. Kwmg LLC boosted its holdings in shares of Amgen by 3.4% in the 2nd quarter. Kwmg LLC now owns 20,501 shares of the medical research company's stock valued at $5,724,000 after acquiring an additional 666 shares during the last quarter. Revisor Wealth Management LLC acquired a new position in Amgen during the second quarter valued at $462,000. Hofer & Associates. Inc lifted its position in Amgen by 4.3% during the second quarter. Hofer & Associates. Inc now owns 7,180 shares of the medical research company's stock valued at $2,005,000 after purchasing an additional 298 shares during the period. Bfsg LLC boosted its holdings in Amgen by 3.9% in the second quarter. Bfsg LLC now owns 13,730 shares of the medical research company's stock valued at $3,834,000 after purchasing an additional 516 shares during the last quarter. Finally, West Oak Capital LLC grew its position in Amgen by 15.7% during the 2nd quarter. West Oak Capital LLC now owns 9,858 shares of the medical research company's stock worth $2,752,000 after purchasing an additional 1,335 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.69% of the company's stock.

Amgen Trading Up 0.2%

Shares of Amgen stock opened at $286.00 on Tuesday. 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 stock's 50 day simple moving average is $290.35 and its 200-day simple moving average is $290.02. The stock has a market cap of $153.97 billion, a P/E ratio of 23.39, a P/E/G ratio of 2.48 and a beta of 0.49. 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 announced 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. The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. Amgen's payout ratio is presently 77.84%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent research reports. Bank of America lifted their price objective on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Piper Sandler lifted their price target on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Raymond James Financial started coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating on the stock. Finally, UBS Group cut their target price on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $304.43.

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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