Koshinski Asset Management Inc. Boosts Stock Holdings in Amgen Inc. $AMGN

Key Points

• Koshinski Asset Management Inc. increased its holdings in Amgen Inc. by 9.0% during the second quarter, owning a total of 12,314 shares valued at approximately $3.4 million.
• Other investors have also significantly boosted their positions in Amgen, with OLD National Bancorp IN increasing its holdings by 296.2% to 18,004 shares.
• Amgen reported impressive earnings of $6.02 EPS for the last quarter, exceeding expectations and showing a 9.4% year-over-year revenue growth.

Koshinski Asset Management Inc. grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,314 shares of the medical research company's stock after purchasing an additional 1,012 shares during the quarter. Koshinski Asset Management Inc.'s holdings in Amgen were worth $3,438,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. OLD National Bancorp IN increased its holdings in shares of Amgen by 296.2% during the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company's stock valued at $5,027,000 after purchasing an additional 13,460 shares in the last quarter. KPP Advisory Services LLC increased its holdings in Amgen by 87.1% in the 1st 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 in the last quarter. Advisor Resource Council purchased a new stake in Amgen in the 1st quarter worth $1,331,000. Trinity Legacy Partners LLC increased its holdings in Amgen by 3.9% in the 1st 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 in the last quarter. Finally, DLK Investment Management LLC increased its holdings in Amgen by 7.3% in the 1st 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 in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.0%

Shares of AMGN opened at $298.81 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. 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's fifty day moving average is $287.14 and its two-hundred day moving average is $287.27. The stock has a market cap of $160.87 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal 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 issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen's payout ratio is 77.84%.

Insider Transactions at Amgen

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 transaction of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMGN shares. Weiss Ratings raised shares of Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Morgan Stanley boosted their price target on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Citigroup boosted their price target on shares of Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Finally, Bank of America boosted their price target on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a report on Friday, September 26th. Seven 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, the stock has a consensus rating of "Hold" and a consensus target price of $305.50.

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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