Oak Harvest Investment Services Increases Position in Amgen Inc. $AMGN

Key Points

• Oak Harvest Investment Services increased its stake in Amgen Inc. by 70.3%, purchasing an additional 14,092 shares, bringing its total holdings to 34,133 shares worth approximately $10.6 million.
• Amgen reported $6.02 earnings per share in its last quarterly earnings, exceeding analysts' expectations, and had total revenue of $9.18 billion.
• The company declared a quarterly dividend of $2.38 per share, with an annualized dividend yield of 3.2%, set to be paid on September 12th.

Oak Harvest Investment Services increased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 70.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 34,133 shares of the medical research company's stock after buying an additional 14,092 shares during the period. Amgen comprises approximately 1.5% of Oak Harvest Investment Services' holdings, making the stock its 18th largest position. Oak Harvest Investment Services' holdings in Amgen were worth $10,634,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Brighton Jones LLC boosted its holdings in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Forum Financial Management LP lifted its position in shares of Amgen by 0.7% in the fourth quarter. Forum Financial Management LP now owns 352,784 shares of the medical research company's stock worth $91,950,000 after buying an additional 2,411 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Amgen by 12.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 36,971 shares of the medical research company's stock valued at $9,636,000 after buying an additional 4,232 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in Amgen by 3.4% during the 4th quarter. Integrated Wealth Concepts LLC now owns 23,256 shares of the medical research company's stock valued at $6,061,000 after buying an additional 765 shares in the last quarter. Finally, Nebula Research & Development LLC purchased a new position in Amgen during the 4th quarter valued at approximately $1,181,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective on the stock. Royal Bank Of Canada decreased their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. 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. Finally, Piper Sandler increased their price target on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $304.43.

Amgen Trading Down 0.8%

AMGN stock traded down $2.36 during trading on Thursday, hitting $285.61. The company had a trading volume of 1,885,523 shares, compared to its average volume of 2,813,461. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The company has a 50 day simple moving average of $293.25 and a 200-day simple moving average of $293.04. The firm has a market capitalization of $153.76 billion, a P/E ratio of 23.35, a PEG ratio of 2.49 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 results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the previous year, the business earned $4.97 earnings per share. Amgen's quarterly 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, research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. Amgen's dividend payout ratio (DPR) is currently 77.84%.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.76% of the company's stock.

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.