RWA Wealth Partners LLC Purchases 2,270 Shares of Amgen Inc. $AMGN

Key Points

• RWA Wealth Partners LLC increased its stake in Amgen Inc. by 7.0%, acquiring an additional 2,270 shares during the first quarter, bringing its total holdings to 34,609 shares valued at approximately $10.78 million.
• Several other institutional investors have also significantly altered their positions, with 76.50% of Amgen's stock now owned by institutional investors.
• Amgen announced a quarterly dividend of $2.38 per share, representing an annual yield of 3.2%, with the dividend payout ratio currently at 77.84%.

RWA Wealth Partners LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,609 shares of the medical research company's stock after buying an additional 2,270 shares during the period. RWA Wealth Partners LLC's holdings in Amgen were worth $10,782,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. First Pacific Financial raised its holdings in shares of 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 buying an additional 67 shares in the last quarter. Pinney & Scofield Inc. purchased a new position in shares of Amgen during the 4th quarter valued at about $26,000. Global Wealth Strategies & Associates raised its holdings in shares of Amgen by 1,388.9% during the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock valued at $42,000 after buying an additional 125 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Amgen during the 4th quarter valued at about $36,000. Finally, South Plains Financial Inc. purchased a new position in Amgen in the 4th quarter worth approximately $37,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Down 0.7%

Shares of AMGN traded down $2.04 during mid-day trading on Friday, hitting $293.72. 1,643,968 shares of the company's stock traded hands, compared to its average volume of 2,841,414. 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 Inc. has a 1 year low of $253.30 and a 1 year high of $339.17. The firm has a market capitalization of $158.13 billion, a P/E ratio of 24.02, a PEG ratio of 2.55 and a beta of 0.49. The business's 50-day moving average price is $293.46 and its 200-day moving average price is $293.24.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (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 firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. During the same period in the previous year, the firm earned $4.97 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given 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 3.2%. Amgen's payout ratio is currently 77.84%.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada decreased their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Guggenheim assumed coverage on Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target on the stock. Bank of America lifted their price target on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 23rd. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $303.76.

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.