Modern Wealth Management LLC Grows Position in Amgen Inc. $AMGN

Key Points

• Modern Wealth Management LLC increased its holdings in Amgen Inc. by 40.8%, owning 3,417 shares worth approximately $1,065,000 as of its latest SEC filing.
• In recent insider transactions, SVP Nancy A. Grygiel sold 1,267 shares of Amgen, representing a 14.95% decrease in her ownership.
• Amgen has reported strong quarterly earnings, with an EPS of $6.02, exceeding estimates, and a revenue increase of 9.4% year-over-year.

Modern Wealth Management LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 40.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,417 shares of the medical research company's stock after purchasing an additional 990 shares during the period. Modern Wealth Management LLC's holdings in Amgen were worth $1,065,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AMGN. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen in the 1st quarter worth $25,000. Pinney & Scofield Inc. bought a new stake in shares of Amgen in the 4th quarter worth $26,000. First Pacific Financial increased its holdings in shares of Amgen by 304.5% in the 1st 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. Activest Wealth Management increased its holdings in shares of Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in shares of Amgen in the 4th quarter worth $36,000. Institutional investors own 76.50% of the company's stock.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction that occurred 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 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 SEC, which is available at this link. 0.76% of the stock is currently owned by company insiders.

Amgen Price Performance

Shares of Amgen stock opened at $276.39 on Friday. The stock's 50-day simple moving average is $292.54 and its 200-day simple moving average is $291.66. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $339.17. The company has a market capitalization of $148.80 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.46 and a beta of 0.49. 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 (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the previous year, the business earned $4.97 earnings per share. The business's revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, analysts expect 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. Shareholders of record on Friday, August 22nd were given 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 yield of 3.4%. Amgen's dividend payout ratio is 77.84%.

Analyst Ratings Changes

A number of research firms have commented on AMGN. Guggenheim initiated coverage on Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price for the company. Citigroup lifted their price objective on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Piper Sandler lifted their price objective on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Finally, Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $304.43.

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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