Kingstone Capital Partners Texas LLC Buys New Stake in Amgen Inc. $AMGN

Key Points

• Kingstone Capital Partners Texas LLC acquired a new stake in Amgen Inc., purchasing 583,533 shares valued at approximately $156.8 million.
• Amgen reported strong quarterly earnings with an EPS of $6.02, surpassing analysts' expectations, and a 9.4% increase in revenue year-over-year.
• The company announced a quarterly dividend of $2.38, reflecting a 3.3% dividend yield and a payout ratio of 77.84%.

Kingstone Capital Partners Texas LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 583,533 shares of the medical research company's stock, valued at approximately $156,812,000. Kingstone Capital Partners Texas LLC owned 0.11% of Amgen at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. KPP Advisory Services LLC raised 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 worth $1,817,000 after acquiring an additional 2,716 shares during the period. Advisor Resource Council acquired a new position in Amgen during the first quarter worth $1,331,000. Trinity Legacy Partners LLC raised its position in Amgen by 3.9% during the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock worth $5,026,000 after acquiring an additional 612 shares during the period. DLK Investment Management LLC raised its position in Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after acquiring an additional 1,387 shares during the period. Finally, Founders Financial Alliance LLC raised its position in Amgen by 2.7% during the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock worth $491,000 after acquiring an additional 42 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Amgen stock opened at $285.41 on Friday. 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 52-week low of $253.30 and a 52-week high of $339.17. The company has a fifty day simple moving average of $290.57 and a 200-day simple moving average of $290.66. The firm has a market capitalization of $153.65 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.40 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the firm posted $4.97 earnings per share. Amgen's quarterly revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

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

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company'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 completion of the sale, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $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 can be accessed through this link. Corporate insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMGN. Morgan Stanley upped their price objective on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Bank of America upped their price objective on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Citigroup upped their price objective on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Raymond James Financial started coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating for the company. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $304.43.

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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