Seven Mile Advisory Takes Position in Amgen Inc. $AMGN

Key Points

• Seven Mile Advisory acquired 891 shares of Amgen Inc. valued at approximately $278,000 in the first quarter, as disclosed to the SEC.
• Amgen reported a quarterly EPS of $6.02, exceeding analyst expectations by $0.74, with a revenue of $9.18 billion, marking a 9.4% year-over-year increase.
• The company announced a quarterly dividend of $2.38, yielding an annualized dividend of $9.52 and a payout ratio of 77.84%.

Seven Mile Advisory purchased a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 891 shares of the medical research company's stock, valued at approximately $278,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Pinney & Scofield Inc. acquired a new stake in shares of Amgen during the 4th quarter worth approximately $26,000. First Pacific Financial grew 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 worth $28,000 after purchasing an additional 67 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the 4th quarter worth approximately $36,000. South Plains Financial Inc. acquired a new stake in shares of Amgen during the 4th quarter worth approximately $37,000. Finally, Global Wealth Strategies & Associates grew 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 worth $42,000 after purchasing an additional 125 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMGN has been the topic of several recent research reports. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Guggenheim assumed coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective on the stock. Morgan Stanley boosted their price target on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Citigroup upped their price target on Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $303.76.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction 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 transaction, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is owned by company insiders.

Amgen Price Performance

Amgen stock traded up $0.90 on Wednesday, reaching $296.45. The company's stock had a trading volume of 1,722,772 shares, compared to its average volume of 2,855,375. 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 company has a market cap of $159.60 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 2.52 and a beta of 0.49. The business's fifty day moving average price is $293.40 and its 200 day moving average price is $293.17. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17.

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

Amgen Announces Dividend

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

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.