Simplicity Wealth LLC Has $1.43 Million Holdings in Amgen Inc. $AMGN

Key Points

• Simplicity Wealth LLC increased its holdings in Amgen Inc. by 310.4%, owning 5,138 shares worth $1.43 million as of the latest SEC filing.
• Amgen reported earnings of $6.02 per share for the quarter, surpassing analysts' expectations of $5.28, while revenue increased by 9.4% year-over-year to $9.18 billion.
• The company declared a quarterly dividend of $2.38 per share, translating to an annualized yield of 3.2% and a payout ratio of 77.84%.

Simplicity Wealth LLC grew its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 310.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,138 shares of the medical research company's stock after purchasing an additional 3,886 shares during the quarter. Simplicity Wealth LLC's holdings in Amgen were worth $1,434,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new position in Amgen during the 1st quarter worth $25,000. First Pacific Financial increased its position in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after acquiring an additional 67 shares during the period. CBIZ Investment Advisory Services LLC increased its position in Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after acquiring an additional 85 shares during the period. Activest Wealth Management raised its stake in Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. boosted its holdings in Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock valued at $38,000 after purchasing an additional 122 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Amgen stock opened at $294.12 on Tuesday. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The stock has a market capitalization of $158.34 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 2.59 and a beta of 0.49. The stock has a fifty day moving average of $287.20 and a 200-day moving average of $287.83.

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

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio is currently 77.84%.

Insider Buying and Selling

In other Amgen 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 sale, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Bank of America raised their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a report on Friday, September 26th. Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They issued a "market perform" rating for the company. Piper Sandler increased their target price on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Morgan Stanley raised their price target on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Finally, William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $309.42.

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.

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