Ethic Inc. Boosts Position in Amgen Inc. $AMGN

Key Points

• Ethic Inc. increased its stake in Amgen Inc. by 5.6% during the second quarter, owning 40,440 shares valued at approximately $11.2 million.
• Amgen's recent earnings report showed $6.02 earnings per share, exceeding expectations and showing a 9.4% revenue growth compared to the previous year.
• The company declared a quarterly dividend of $2.38 per share, with an annualized dividend yield of 3.2%.

Ethic Inc. increased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,440 shares of the medical research company's stock after buying an additional 2,157 shares during the period. Ethic Inc.'s holdings in Amgen were worth $11,207,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Wealth Preservation Advisors LLC acquired a new stake in Amgen in the 1st quarter valued at about $25,000. First Pacific Financial lifted its holdings in 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 buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after purchasing an additional 85 shares in the last quarter. Activest Wealth Management grew its stake in shares of Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. boosted its holdings in shares of Amgen by 12,200.0% in the 1st 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. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Trading Down 0.7%

Amgen stock opened at $301.19 on Wednesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The firm has a market capitalization of $162.15 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 2.68 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The company has a 50 day moving average price of $287.83 and a 200 day moving average price of $287.15.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the company earned $4.97 earnings per share. The business's 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. Research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMGN shares. Bank of America lifted their target price on Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research note on Friday, September 26th. Wall Street Zen raised shares of Amgen from a "hold" rating to a "buy" rating in a research note on Sunday. Piper Sandler lifted their price target on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Morgan Stanley boosted their price objective on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Finally, William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $300.94.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The stock was 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 directly owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.69% of the company's stock.

About Amgen

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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