Occidental Asset Management LLC Acquires 1,174 Shares of Amgen Inc. $AMGN

Key Points

• Occidental Asset Management LLC increased its stake in Amgen Inc. by 8.4% during the second quarter, now owning a total of 15,161 shares worth approximately $4.23 million.
• Amgen recently reported quarterly earnings of $6.02 EPS, exceeding analysts' expectations, and expects FY 2025 EPS guidance between $20.200 and $21.300.
• The company declared a quarterly dividend of $2.38 per share, with an annualized basis of $9.52 and a dividend yield of 3.3%.

Occidental Asset Management LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,161 shares of the medical research company's stock after buying an additional 1,174 shares during the period. Occidental Asset Management LLC's holdings in Amgen were worth $4,233,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AMGN. Wealth Preservation Advisors LLC bought a new position in Amgen during the 1st quarter valued at about $25,000. First Pacific Financial lifted its stake in Amgen by 304.5% during 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 lifted its stake in Amgen by 1,214.3% during 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 lifted its stake in Amgen by 3,433.3% during 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, Heck Capital Advisors LLC bought a new position in Amgen during the 4th quarter valued at about $36,000. Institutional investors own 76.50% of the company's stock.

Wall Street Analyst Weigh In

AMGN has been the subject of several research reports. Citigroup upped their price target on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. UBS Group reduced their price target 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. Raymond James Financial initiated coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating for the company. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Finally, Morgan Stanley upped their price target 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 issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $304.43.

Amgen Trading Up 0.2%

Shares of AMGN stock opened at $286.00 on Tuesday. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market cap of $153.97 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 2.48 and a beta of 0.49. The stock has a 50 day simple moving average of $290.35 and a 200-day simple moving average of $290.02. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping 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 firm had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same period in the previous year, the business earned $4.97 earnings per share. The firm's revenue for the quarter 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, equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal 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 3.3%. 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 0.69% 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.

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