Mutual Advisors LLC Acquires 1,045 Shares of Amgen Inc. $AMGN

Key Points

• Mutual Advisors LLC increased its holdings in Amgen Inc. by 6.9%, acquiring an additional 1,045 shares, totaling 16,092 shares valued at approximately $4.93 million.
• Amgen reported quarterly earnings of $6.02 EPS, exceeding analysts' expectations of $5.28 EPS, with a revenue of $9.18 billion, up 9.4% year-over-year.
• The firm declared a $2.38 quarterly dividend, reflecting an annualized dividend of $9.52 and a yield of 3.2%.

Mutual Advisors LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,092 shares of the medical research company's stock after purchasing an additional 1,045 shares during the period. Mutual Advisors LLC's holdings in Amgen were worth $4,933,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new position in Amgen in the first quarter valued at $25,000. First Pacific Financial grew its position 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 valued at $28,000 after acquiring an additional 67 shares during the period. CBIZ Investment Advisory Services LLC grew its position in shares of Amgen by 1,214.3% in the 1st 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 during the period. Activest Wealth Management grew its position 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 valued at $33,000 after acquiring an additional 103 shares during the period. Finally, Nova Wealth Management Inc. grew its position in shares of Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock valued at $38,000 after acquiring an additional 122 shares during the period. Institutional investors own 76.50% of the company's stock.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by company insiders.

Amgen Stock Performance

NASDAQ AMGN opened at $297.32 on Thursday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. 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 firm has a 50-day moving average of $286.71 and a 200-day moving average of $287.44. The stock has a market cap of $160.07 billion, a PE ratio of 24.31, a P/E/G ratio of 2.60 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter in the previous year, the company earned $4.97 EPS. 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. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Raymond James Financial assumed coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a "market perform" rating for the company. UBS Group decreased their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Bank of America lifted their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research report on Friday, September 26th. Citigroup lifted their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Finally, Morgan Stanley raised their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research note 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 given a Sell rating to the company's stock. According to MarketBeat, Amgen currently has an average rating of "Hold" and a consensus target price of $309.42.

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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