Lewis Asset Management LLC Grows Position in Amgen Inc. $AMGN

Key Points

• Lewis Asset Management LLC increased its stake in Amgen Inc. by 44.2%, owning 3,137 shares valued at $876,000 as of the latest quarter.
• Institutional ownership of Amgen is substantial, with over 76.50% of shares held by hedge funds and other investors, including significant increases from multiple firms.
• Amgen recently reported earnings per share (EPS) of $6.02 for the quarter, exceeding estimates, and provided a fiscal year 2025 guidance of 20.200-21.300 EPS.

Lewis Asset Management LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 44.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,137 shares of the medical research company's stock after buying an additional 961 shares during the period. Lewis Asset Management LLC's holdings in Amgen were worth $876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in AMGN. Wealth Preservation Advisors LLC bought a new stake in Amgen during the 1st quarter valued at $25,000. Pinney & Scofield Inc. purchased a new position in Amgen during the fourth quarter worth about $26,000. First Pacific Financial lifted its stake in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its stake in shares of Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Finally, Activest Wealth Management boosted its position in shares of Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after acquiring an additional 103 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Up 0.2%

Shares of AMGN traded up $0.59 during mid-day trading on Monday, hitting $286.00. 3,050,077 shares of the company's stock were exchanged, compared to its average volume of 2,339,546. The stock's 50-day moving average is $290.35 and its 200-day moving average is $290.02. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17. 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 company has a market cap of $153.97 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 2.48 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on AMGN shares. Piper Sandler increased their price objective on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Bank of America lifted their target price on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Citigroup raised their target price on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Finally, Morgan Stanley upped their target price on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Seven 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $304.43.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is owned by company insiders.

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.