Keener Financial Planning LLC Raises Stake in Amgen Inc. $AMGN

Key Points

• Keener Financial Planning LLC significantly increased its stake in Amgen Inc. by 2,272.1%, owning 1,020 shares worth approximately $284,000 at the end of the second quarter.
• Analysts have mixed ratings on Amgen, with eight rating it as a Buy and eleven as a Hold, while Bank of America raised its price target from $261 to $272.
• Amgen declared a quarterly dividend of $2.38 per share, representing a yield of 3.3%, with its dividend payout ratio currently at 77.84%.

Keener Financial Planning LLC increased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2,272.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,020 shares of the medical research company's stock after buying an additional 977 shares during the quarter. Keener Financial Planning LLC's holdings in Amgen were worth $284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. OLD National Bancorp IN increased its position in shares of Amgen by 296.2% in the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company's stock worth $5,027,000 after purchasing an additional 13,460 shares during the last quarter. KPP Advisory Services LLC grew its position in Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock valued at $1,817,000 after acquiring an additional 2,716 shares during the last quarter. Advisor Resource Council bought a new position in Amgen during the first quarter valued at approximately $1,331,000. Trinity Legacy Partners LLC boosted its stake in shares of Amgen by 3.9% during the first 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 during the period. Finally, DLK Investment Management LLC boosted its stake 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 valued at $6,384,000 after purchasing an additional 1,387 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMGN shares. William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a report on Saturday. Bank of America raised their price target on Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a report on Friday, September 26th. Piper Sandler raised their price target on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday, August 25th. Finally, Weiss Ratings upgraded Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $309.42.

Amgen Stock Down 1.8%

AMGN stock opened at $290.13 on Friday. The business's 50-day moving average price is $286.77 and its 200-day moving average price is $287.68. 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 Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. The stock has a market cap of $156.19 billion, a P/E ratio of 23.72, a PEG ratio of 2.56 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results 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 return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. During the same period in the previous year, the firm earned $4.97 EPS. The firm'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. On average, equities research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio is presently 77.84%.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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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