Empirical Asset Management LLC Purchases 3,172 Shares of Amgen Inc. $AMGN

Key Points

• Empirical Asset Management LLC increased its holdings in Amgen Inc. by 288.1% in Q2, acquiring an additional 3,172 shares to reach a total of 4,273 shares valued at approximately $1.19 million.
• The company's stock opened at $295.81 on Friday and has a market capitalization of $159.25 billion, alongside a P/E ratio of 24.19 and a debt-to-equity ratio of 7.24.
• Amgen reported $6.02 earnings per share for the last quarter, exceeding expectations, and is forecasting a FY 2025 guidance of 20.200-21.300 EPS.

Empirical Asset Management LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 288.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,273 shares of the medical research company's stock after acquiring an additional 3,172 shares during the quarter. Empirical Asset Management LLC's holdings in Amgen were worth $1,193,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMGN. Brighton Jones LLC raised its position in shares of Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Amgen by 40.2% during the first quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company's stock worth $3,662,000 after acquiring an additional 3,369 shares during the last quarter. Inscription Capital LLC bought a new stake in shares of Amgen during the first quarter worth $348,000. Kingswood Wealth Advisors LLC increased its holdings in Amgen by 2.3% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,524 shares of the medical research company's stock valued at $1,096,000 after purchasing an additional 79 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC bought a new stake in Amgen in the first quarter valued at about $219,000. Institutional investors own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction dated 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 directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is owned by corporate insiders.

Amgen Stock Down 0.5%

AMGN stock opened at $295.81 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 stock has a market capitalization of $159.25 billion, a P/E ratio of 24.19, a P/E/G ratio of 2.63 and a beta of 0.49. The business has a 50-day moving average of $286.93 and a 200-day moving average of $287.33. 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 data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $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 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 dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's dividend payout ratio is currently 77.84%.

Analysts Set New Price Targets

AMGN has been the subject of a number of recent analyst reports. Raymond James Financial initiated coverage on Amgen in a report on Wednesday, September 3rd. They issued a "market perform" rating for the company. Morgan Stanley upped 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. UBS Group dropped their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. Finally, William Blair reiterated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $305.50.

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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