GC Wealth Management RIA LLC Has $2.31 Million Stake in Amgen Inc. $AMGN

Key Points

• GC Wealth Management RIA LLC increased its stake in Amgen Inc. by 77.3%, holding 8,287 shares valued at approximately $2.31 million.
• Insider transactions revealed that SVP Nancy A. Grygiel sold 1,267 shares at an average price of $296.99, reducing her holdings to 7,209 shares.
• Amgen reported better-than-expected earnings with $6.02 EPS for the quarter, surpassing analysts’ estimates and showing a revenue increase of 9.4% year-over-year.

GC Wealth Management RIA LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 77.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,287 shares of the medical research company's stock after purchasing an additional 3,614 shares during the quarter. GC Wealth Management RIA LLC's holdings in Amgen were worth $2,314,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Hanson & Doremus Investment Management boosted its holdings in Amgen by 14.3% during the second quarter. Hanson & Doremus Investment Management now owns 11,347 shares of the medical research company's stock worth $3,168,000 after purchasing an additional 1,422 shares during the last quarter. R.H. Investment Group LLC boosted its holdings in Amgen by 0.8% during the second quarter. R.H. Investment Group LLC now owns 14,637 shares of the medical research company's stock worth $4,087,000 after purchasing an additional 120 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of Amgen by 209.6% in the second quarter. Sound Income Strategies LLC now owns 2,582 shares of the medical research company's stock valued at $721,000 after buying an additional 1,748 shares in the last quarter. Genesis Private Wealth LLC grew its stake in shares of Amgen by 17.4% in the second quarter. Genesis Private Wealth LLC now owns 1,102 shares of the medical research company's stock valued at $308,000 after buying an additional 163 shares in the last quarter. Finally, Investment Advisory Services Inc. TX ADV grew its stake in shares of Amgen by 7.4% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 5,625 shares of the medical research company's stock valued at $1,570,000 after buying an additional 387 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The shares were 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. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Amgen Trading Up 0.7%

AMGN stock opened at $272.98 on Monday. 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 company has a fifty day moving average price of $288.86 and a two-hundred day moving average price of $288.89. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The stock has a market cap of $146.96 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 2.37 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same period in the previous year, the business posted $4.97 earnings per share. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several analyst reports. Citigroup raised their target price on shares of Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a research note on Wednesday, September 24th. Bank of America raised their target price on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research note on Friday. UBS Group decreased their target price on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Morgan Stanley raised their target price on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Amgen presently has an average rating of "Hold" and an average price target of $309.70.

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.

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.