Sagespring Wealth Partners LLC Increases Stock Position in Amgen Inc. $AMGN

Key Points

• Sagespring Wealth Partners LLC increased its stake in Amgen Inc. by 12.0%, acquiring an additional 1,454 shares, bringing its total holdings to 13,616 shares valued at approximately $3.8 million.
• Amgen reported earnings per share (EPS) of $6.02 for the last quarter, surpassing estimates and showing a 9.4% increase in revenue year-over-year.
• The company declared a quarterly dividend of $2.38, which translates to an annual yield of 3.3% and a payout ratio of 77.84%.

Sagespring Wealth Partners LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 12.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,616 shares of the medical research company's stock after acquiring an additional 1,454 shares during the period. Sagespring Wealth Partners LLC's holdings in Amgen were worth $3,802,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AMGN. Brighton Jones LLC lifted its holdings in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Amgen by 40.2% in the 1st quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company's stock worth $3,662,000 after acquiring an additional 3,369 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Amgen by 6.4% in the first quarter. Sound Income Strategies LLC now owns 834 shares of the medical research company's stock worth $260,000 after purchasing an additional 50 shares during the last quarter. Acropolis Investment Management LLC grew its holdings in shares of Amgen by 7.8% in the first quarter. Acropolis Investment Management LLC now owns 1,097 shares of the medical research company's stock worth $342,000 after purchasing an additional 79 shares during the last quarter. Finally, Stewardship Advisors LLC grew its holdings in shares of Amgen by 4.9% in the first quarter. Stewardship Advisors LLC now owns 893 shares of the medical research company's stock worth $278,000 after purchasing an additional 42 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $292.40 on Tuesday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The business has a 50-day simple moving average of $286.58 and a two-hundred day simple moving average of $287.33. 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 market cap of $157.42 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio is presently 77.84%.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on AMGN shares. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday. Weiss Ratings upgraded shares of Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Finally, Raymond James Financial started coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating for the company. Eight 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.com, the stock presently has an average rating of "Hold" and a consensus target price of $309.42.

Amgen 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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