Signature Estate & Investment Advisors LLC Buys 1,872 Shares of Amgen Inc. $AMGN

Key Points

• Signature Estate & Investment Advisors LLC increased its holdings in Amgen Inc. by 50.5% during the first quarter, owning a total of 5,576 shares valued at approximately $1.74 million as of the latest SEC filing.
• Amgen's stock has shown strong performance, surpassing earnings estimates with $6.02 earnings per share for the last quarter, and had a revenue of $9.18 billion, indicating a 9.4% year-over-year increase.
• The company declared a quarterly dividend of $2.38 per share, yielding 3.4%, with 76.50% of its stock now owned by hedge funds and institutional investors.

Signature Estate & Investment Advisors LLC increased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 50.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,576 shares of the medical research company's stock after buying an additional 1,872 shares during the quarter. Signature Estate & Investment Advisors LLC's holdings in Amgen were worth $1,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Voleon Capital Management LP increased its stake in shares of Amgen by 26.5% in the first quarter. Voleon Capital Management LP now owns 7,396 shares of the medical research company's stock worth $2,304,000 after buying an additional 1,549 shares during the period. Fred Alger Management LLC increased its position in Amgen by 93.5% during the 1st quarter. Fred Alger Management LLC now owns 42,020 shares of the medical research company's stock valued at $13,091,000 after purchasing an additional 20,309 shares during the period. CTC Alternative Strategies Ltd. purchased a new position in Amgen during the 1st quarter valued at $717,000. Ashton Thomas Private Wealth LLC increased its position in Amgen by 1.4% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 88,490 shares of the medical research company's stock valued at $27,569,000 after purchasing an additional 1,195 shares during the period. Finally, Kestra Investment Management LLC increased its position in Amgen by 81.2% during the 1st quarter. Kestra Investment Management LLC now owns 6,483 shares of the medical research company's stock valued at $2,020,000 after purchasing an additional 2,905 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research analyst reports. Bank of America boosted their price objective on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. UBS Group reduced their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. William Blair reissued an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Piper Sandler upped their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $304.43.

Insider Transactions at Amgen

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

Amgen Stock Down 2.2%

Shares of NASDAQ:AMGN traded down $6.34 during midday trading on Friday, reaching $276.39. The company's stock had a trading volume of 2,143,109 shares, compared to its average volume of 1,855,134. The firm has a 50 day moving average of $292.54 and a 200-day moving average of $291.76. The firm has a market capitalization of $148.80 billion, a P/E ratio of 22.60, a PEG ratio of 2.46 and a beta of 0.49. 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 12-month low of $253.30 and a 12-month high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (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 analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. Amgen's payout ratio is presently 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.