IMS Capital Management Makes New Investment in Amgen Inc. $AMGN

Key Points

• IMS Capital Management acquired a new stake in Amgen Inc. during the second quarter, purchasing 1,289 shares valued at approximately $360,000.
• Institutional investors hold 76.50% of Amgen’s stock, with several firms, including KPP Advisory Services LLC, significantly increasing their holdings in recent months.
• Amgen recently declared a $2.38 quarterly dividend, representing a yield of 3.3% and an annualized dividend of $9.52.

IMS Capital Management purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,289 shares of the medical research company's stock, valued at approximately $360,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. KPP Advisory Services LLC raised its holdings 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 valued at $1,817,000 after purchasing an additional 2,716 shares in the last quarter. Advisor Resource Council bought a new position in shares of Amgen during the 1st quarter valued at $1,331,000. Trinity Legacy Partners LLC raised its holdings 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 valued at $5,026,000 after purchasing an additional 612 shares in the last quarter. DLK Investment Management LLC raised its holdings 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 valued at $6,384,000 after purchasing an additional 1,387 shares in the last quarter. Finally, Founders Financial Alliance LLC raised its holdings 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 valued at $491,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AMGN shares. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Raymond James Financial started coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a "market perform" rating on the stock. Citigroup lifted their target price on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. UBS Group dropped their target price on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Amgen presently has an average rating of "Hold" and a consensus target price of $304.43.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were 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 $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is currently owned by company insiders.

Amgen Price Performance

Shares of Amgen stock opened at $286.81 on Wednesday. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The firm's 50-day simple moving average is $290.23 and its 200-day simple moving average is $290.00. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. The firm has a market cap of $154.41 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 2.48 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the business earned $4.97 EPS. The firm's revenue was up 9.4% on a year-over-year basis. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. Amgen's payout ratio is 77.84%.

About Amgen

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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