Hanson & Doremus Investment Management Increases Stake in Amgen Inc. $AMGN

Key Points

• Hanson & Doremus Investment Management increased its stake in Amgen Inc. by 14.3% in Q2, bringing its total shares to 11,347, valued at approximately $3.17 million.
• Multiple institutional investors have added to their positions in Amgen, with KPP Advisory Services increasing its stake by 87.1% in Q1.
• Amgen reported a quarterly earnings per share (EPS) of $6.02, exceeding analysts' estimates, and projected a FY 2025 EPS guidance between 20.200 and 21.300.

Hanson & Doremus Investment Management raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 14.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,347 shares of the medical research company's stock after purchasing an additional 1,422 shares during the period. Hanson & Doremus Investment Management's holdings in Amgen were worth $3,168,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company'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 value 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.69% of the stock is currently owned by insiders.

Amgen Trading Up 0.7%

NASDAQ AMGN opened at $272.98 on Monday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The firm has a 50 day moving average of $288.86 and a two-hundred day moving average of $288.89. The stock has a market capitalization of $146.96 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 2.37 and a beta of 0.49. 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 released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced 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 3.5%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is 77.84%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group cut their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Raymond James Financial assumed coverage on Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating for the company. Citigroup raised their price objective on Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Morgan Stanley raised their price objective on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.

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