Amgen Inc. $AMGN Shares Bought by Signal Advisors Wealth LLC

Key Points

• Signal Advisors Wealth LLC increased its stake in Amgen Inc. by 237.1% during the second quarter, owning 6,300 shares valued at approximately $1.76 million by quarter's end.
• Amgen reported $6.02 earnings per share in its last earnings release, exceeding analysts' expectations of $5.28, and experienced a quarterly revenue increase of 9.4% year-over-year.
• The company declared a quarterly dividend of $2.38, resulting in an annualized dividend of $9.52 and a dividend yield of 3.5%.

Signal Advisors Wealth LLC boosted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 237.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,300 shares of the medical research company's stock after purchasing an additional 4,431 shares during the period. Signal Advisors Wealth LLC's holdings in Amgen were worth $1,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the company. Octavia Wealth Advisors LLC boosted its position in shares of Amgen by 1.5% in the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after purchasing an additional 35 shares in the last quarter. Crumly & Associates Inc. raised its holdings in Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock valued at $320,000 after buying an additional 36 shares during the period. Affinity Capital Advisors LLC boosted its stake in shares of Amgen by 4.5% in the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock valued at $246,000 after purchasing an additional 37 shares during the period. Accredited Investors Inc. raised its stake in Amgen by 1.7% in the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock valued at $674,000 after buying an additional 37 shares in the last quarter. Finally, Rockline Wealth Management LLC grew its position in shares of Amgen by 3.2% during the first quarter. Rockline Wealth Management LLC now owns 1,240 shares of the medical research company's stock worth $386,000 after acquiring an additional 38 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Bank of America increased their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Raymond James Financial assumed coverage on Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating for the company. UBS Group lowered 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. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $304.43.

Amgen Stock Performance

Shares of AMGN traded up $0.59 on Monday, reaching $286.00. 3,050,077 shares of the company's stock traded hands, compared to its average volume of 2,339,546. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The stock has a market cap of $153.97 billion, a PE ratio of 23.39, a PEG ratio of 2.48 and a beta of 0.49. The stock's 50 day simple moving average is $290.35 and its two-hundred day simple moving average is $290.02. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The firm 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 company's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. Amgen's payout ratio is 77.84%.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction 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 sale, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.69% of the company's stock.

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.