5,416 Shares in Amgen Inc. $AMGN Acquired by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC has purchased 5,416 shares of Amgen Inc., valued at approximately $1.69 million, marking a new investment in the medical research company.
• Institutional investors have increased their holdings in Amgen significantly, with notable purchases made by Brighton Jones LLC and Forum Financial Management LP, among others.
• Amgen's quarterly earnings report showed an EPS of $6.02, exceeding analysts' estimates, along with a projected FY 2025 guidance between $20.20 and $21.30 EPS.

SCS Capital Management LLC bought a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,416 shares of the medical research company's stock, valued at approximately $1,687,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new position in shares of Amgen in the first quarter valued at approximately $25,000. Pinney & Scofield Inc. bought a new position in shares of Amgen in the fourth quarter valued at approximately $26,000. First Pacific Financial boosted its holdings in shares of Amgen by 304.5% in the first 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 in the last quarter. Activest Wealth Management boosted its holdings in shares of Amgen by 3,433.3% in the first 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 in the last quarter. Finally, Heck Capital Advisors LLC bought a new position in shares of Amgen in the fourth quarter valued at approximately $36,000. Institutional investors own 76.50% of the company's stock.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Amgen Price Performance

NASDAQ:AMGN traded down $6.34 during trading hours on Friday, reaching $276.39. 2,143,109 shares of the company's stock were exchanged, compared to its average volume of 1,855,134. 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 Inc. has a 12 month low of $253.30 and a 12 month 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 business's 50-day simple moving average is $292.54 and its two-hundred day simple moving average is $291.76.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The firm had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. Amgen's dividend payout ratio (DPR) is currently 77.84%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMGN. Bank of America increased their price objective on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Citigroup increased their price objective on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Morgan Stanley increased their price objective on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Raymond James Financial began coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a "market perform" rating for the company. Finally, Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $304.43.

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.