Ransom Advisory Ltd Takes $580,000 Position in Amgen Inc. $AMGN

Key Points

• Ransom Advisory Ltd has acquired 1,863 shares of Amgen Inc., valued at approximately $580,000, as part of their investment strategy in the first quarter.
• Amgen reported a robust EPS of $6.02 for the last quarter, surpassing analysts' expectations and showing a 9.4% year-over-year revenue growth.
• The company has declared a quarterly dividend of $2.38 per share, which reflects a 3.4% dividend yield, with a payout ratio of 77.84%.

Ransom Advisory Ltd bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,863 shares of the medical research company's stock, valued at approximately $580,000.

Other hedge funds have also modified their holdings of the company. KPP Advisory Services LLC increased its position in Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after purchasing an additional 2,716 shares during the last quarter. Advisor Resource Council acquired a new stake in Amgen during the first quarter worth about $1,331,000. Trinity Legacy Partners LLC increased its position in shares of Amgen by 3.9% during the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock valued at $5,026,000 after acquiring an additional 612 shares during the last quarter. DLK Investment Management LLC increased its position in shares of Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Founders Financial Alliance LLC increased its position in shares of Amgen by 2.7% during the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock valued at $491,000 after acquiring an additional 42 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of Amgen stock traded down $6.34 on Friday, hitting $276.39. The company's stock had a trading volume of 2,143,109 shares, compared to its average volume of 1,855,134. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The firm has a fifty day moving average price of $292.54 and a 200-day moving average price of $291.66. The company has a market capitalization of $148.80 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating 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 firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the previous year, the company posted $4.97 EPS. 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 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio is 77.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Guggenheim initiated coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target for the company. Piper Sandler lifted their price target on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Finally, UBS Group cut their target price on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $304.43.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's 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 transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade 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 through this hyperlink. 0.76% of the stock is owned by company insiders.

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.