Amgen Inc. $AMGN Shares Acquired by Focus Partners Wealth

Key Points

• Focus Partners Wealth increased its stake in Amgen Inc. by 17.9%, acquiring a total of 221,488 shares valued at approximately $69 million.
• Amgen reported a quarterly earnings per share (EPS) of $6.02, exceeding analysts' expectations by $0.74 and achieving a revenue of $9.18 billion.
• The company declared a quarterly dividend of $2.38 per share, representing an annual yield of 3.4%, which will be paid to shareholders of record on August 22nd.

Focus Partners Wealth grew its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 17.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 221,488 shares of the medical research company's stock after purchasing an additional 33,626 shares during the quarter. Focus Partners Wealth's holdings in Amgen were worth $69,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. KPP Advisory Services LLC lifted its stake in shares of Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after purchasing an additional 2,716 shares in the last quarter. Advisor Resource Council purchased a new stake in shares of Amgen during the first quarter worth about $1,331,000. Trinity Legacy Partners LLC increased its position in shares of Amgen by 3.9% during the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock worth $5,026,000 after acquiring an additional 612 shares during the last quarter. DLK Investment Management LLC increased its position in shares of Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Founders Financial Alliance LLC increased its position in shares of Amgen by 2.7% during the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock worth $491,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded down $6.34 during trading on Friday, hitting $276.39. 2,143,109 shares of the company traded hands, compared to its average volume of 1,855,134. The stock has a market capitalization of $148.80 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.46 and a beta of 0.49. The business's fifty day moving average is $292.54 and its 200-day moving average is $291.76. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The company 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%.The business's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm 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. The ex-dividend date was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.4%. Amgen's payout ratio is currently 77.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley lifted their target price on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. UBS Group dropped their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Bank of America boosted their price objective on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Finally, Raymond James Financial initiated coverage on Amgen in a report on Wednesday, September 3rd. They issued a "market perform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $304.43.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business'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 directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.76% of the company's stock.

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.