Massachusetts Wealth Management Takes $1.82 Million Position in Amgen Inc. $AMGN

Massachusetts Wealth Management bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,518 shares of the medical research company's stock, valued at approximately $1,820,000.

Other hedge funds have also recently modified their holdings of the company. Fairvoy Private Wealth LLC increased its position in shares of Amgen by 1.1% in the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company's stock valued at $885,000 after buying an additional 35 shares in the last quarter. Crumly & Associates Inc. increased its position in shares of Amgen by 3.2% during the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock worth $320,000 after purchasing an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. increased its position in shares of Amgen by 5.2% during the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock worth $204,000 after purchasing an additional 36 shares in the last quarter. Affinity Capital Advisors LLC increased its position in shares of Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after purchasing an additional 37 shares in the last quarter. Finally, Accredited Investors Inc. increased its position in shares of Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley boosted their price target on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Raymond James Financial assumed coverage on Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating for the company. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Wall Street Zen upgraded Amgen from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Finally, UBS Group dropped their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $309.42.

Amgen Stock Performance

NASDAQ AMGN opened at $294.62 on Thursday. The stock's fifty day moving average is $286.90 and its two-hundred day moving average is $287.93. The firm has a market capitalization of $158.61 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 2.57 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share 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 analyst estimates of $8.86 billion. During the same quarter in the previous year, the company posted $4.97 earnings per share. The firm's revenue for the quarter 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, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen's dividend payout ratio is currently 77.84%.

Insider Buying and Selling at Amgen

In other 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 completion of the transaction, the senior vice president directly 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Amgen 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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