Hudson Value Partners LLC Grows Position in Amgen Inc. $AMGN

Key Points

• Hudson Value Partners LLC increased its stake in Amgen Inc. by 25.5% in Q2, now holding 19,799 shares valued at approximately $5.5 million, making Amgen its 14th largest position.
• Amgen reported a 9.4% increase in revenue year-over-year, with earnings per share of $6.02 for the quarter, outperforming analysts' expectations of $5.28.
• The company declared a quarterly dividend of $2.38, contributing to an annualized dividend yield of 3.2%, with a payout ratio of 77.84%.

Hudson Value Partners LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 25.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,799 shares of the medical research company's stock after buying an additional 4,027 shares during the period. Amgen comprises 1.9% of Hudson Value Partners LLC's investment portfolio, making the stock its 14th largest position. Hudson Value Partners LLC's holdings in Amgen were worth $5,528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AMGN. Octavia Wealth Advisors LLC increased its position in Amgen by 1.5% during the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock valued at $759,000 after acquiring an additional 35 shares during the last quarter. Crumly & Associates Inc. increased its position in Amgen by 3.2% in the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock worth $320,000 after buying an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. increased its position in Amgen by 5.2% in the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock worth $204,000 after buying an additional 36 shares in the last quarter. Affinity Capital Advisors LLC increased its position in Amgen by 4.5% in the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after buying an additional 37 shares in the last quarter. Finally, Accredited Investors Inc. increased its position in Amgen by 1.7% in the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Trading Up 5.8%

Shares of NASDAQ:AMGN opened at $298.50 on Thursday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The business's fifty day simple moving average is $287.74 and its 200-day simple moving average is $288.64. The company has a market capitalization of $160.70 billion, a PE ratio of 24.41, a P/E/G ratio of 2.45 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

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

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen's dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group reduced their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Morgan Stanley upped their price target on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Citigroup upped their price target on Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $309.70.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction 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 transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company's stock.

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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