KFG Wealth Management LLC Has $2.94 Million Stock Holdings in Amgen Inc. $AMGN

Key Points

• KFG Wealth Management LLC increased its holdings in Amgen Inc. by 204.2% during Q2, resulting in ownership of 10,534 shares valued at approximately $2.94 million.
• Several institutional investors, including Octavia Wealth Advisors and Crumly & Associates, also raised their stakes in Amgen, indicating growing confidence among investors.
• Amgen's stock has a current price of $285.41, with a twelve-month high of $339.17, and the company reported a 9.4% year-over-year revenue increase in its latest earnings report.

KFG Wealth Management LLC raised its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 204.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,534 shares of the medical research company's stock after buying an additional 7,071 shares during the period. KFG Wealth Management LLC's holdings in Amgen were worth $2,941,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMGN. GAMMA Investing LLC boosted its position in Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares during the last quarter. Nuveen LLC purchased a new position in shares of Amgen in the 1st quarter valued at $688,868,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Amgen during the 4th quarter worth $193,339,000. Federated Hermes Inc. grew its holdings in Amgen by 48.5% during the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company's stock worth $634,680,000 after acquiring an additional 665,555 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Amgen by 128.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company's stock worth $332,017,000 after acquiring an additional 600,096 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler raised their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Morgan Stanley lifted their price target on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Bank of America lifted their price target on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Finally, UBS Group reduced their target price on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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 that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares of the company's stock, 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 legal filing with the SEC, which is available at this hyperlink. 0.69% of the stock is owned by corporate insiders.

Amgen Trading Up 0.2%

Shares of AMGN stock traded up $0.59 during trading hours on Monday, reaching $286.00. 3,050,077 shares of the stock traded hands, compared to its average volume of 2,339,546. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. The business has a fifty day moving average price of $290.35 and a 200 day moving average price of $290.02. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The firm has a market capitalization of $153.97 billion, a PE ratio of 23.39, a PEG ratio of 2.48 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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 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 quarter in the previous year, the business earned $4.97 earnings per share. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date of this dividend 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 presently 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.