Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. increased its holdings in Amgen Inc. by 74.4% in the first quarter, now owning 12,896 shares valued at approximately $4 million.
• Amgen's stock has a current price of $301.37 with a market capitalization of $162.05 billion, and analysts project future earnings of 20.62 EPS for the current year.
• Research analysts have varied opinions on Amgen, with a consensus rating of "Hold" and an average target price of $307.27, reflecting differing perspectives on the stock's potential.

Geneos Wealth Management Inc. increased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 74.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,896 shares of the medical research company's stock after purchasing an additional 5,500 shares during the period. Geneos Wealth Management Inc.'s holdings in Amgen were worth $4,018,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. KPP Advisory Services LLC raised its stake in shares of Amgen by 87.1% during the 1st 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 during the period. Advisor Resource Council purchased a new position in shares of Amgen during the first quarter worth about $1,331,000. DLK Investment Management LLC grew its holdings 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 purchasing an additional 1,387 shares in the last quarter. Mariner LLC grew its holdings in shares of Amgen by 2.2% during the fourth quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock worth $238,316,000 after purchasing an additional 19,250 shares in the last quarter. Finally, Nutshell Asset Management Ltd bought a new stake in Amgen in the 4th quarter worth approximately $2,763,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on AMGN shares. Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Mizuho boosted their price objective on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Piper Sandler reissued an "overweight" rating and set a $328.00 target price on shares of Amgen in a research note on Friday, June 27th. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Finally, UBS Group boosted their target price on Amgen from $315.00 to $326.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Amgen has a consensus rating of "Hold" and an average target price of $307.27.

Amgen Trading Up 0.6%

Shares of Amgen stock traded up $1.78 on Friday, reaching $296.88. The company had a trading volume of 2,410,860 shares, compared to its average volume of 1,708,073. The firm has a market cap of $159.64 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 2.57 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The firm's 50-day moving average price is $292.04 and its two-hundred day moving average price is $291.87. 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 earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.96 EPS. As a group, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. Amgen's payout ratio is currently 86.86%.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is currently owned by insiders.

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.