Smith Chas P & Associates PA Cpas Buys 2,378 Shares of Amgen Inc. $AMGN

Key Points

• Smith Chas P & Associates PA Cpas increased its stake in Amgen Inc. by 2.1%, owning 116,729 shares valued at approximately $32.6 million.
• Amgen recently reported a quarterly earnings per share of $6.02, exceeding estimates, with a revenue of $9.18 billion for the quarter, up 9.4% year-over-year.
• The company declared a quarterly dividend of $2.38 per share, representing an annualized yield of 3.5% with a payout ratio of 77.84%.

Smith Chas P & Associates PA Cpas raised its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,729 shares of the medical research company's stock after purchasing an additional 2,378 shares during the period. Amgen makes up approximately 1.8% of Smith Chas P & Associates PA Cpas' holdings, making the stock its 26th largest holding. Smith Chas P & Associates PA Cpas' holdings in Amgen were worth $32,592,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Amgen during the first quarter valued at approximately $688,868,000. Federated Hermes Inc. lifted its stake in shares of Amgen by 48.5% in the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company's stock worth $634,680,000 after buying an additional 665,555 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Amgen by 128.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company's stock valued at $332,017,000 after buying an additional 600,096 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Amgen in the 2nd quarter worth approximately $156,812,000. Finally, Assenagon Asset Management S.A. lifted its position in Amgen by 1,505.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 518,604 shares of the medical research company's stock valued at $144,799,000 after acquiring an additional 486,299 shares in the last quarter. Hedge funds and other 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 stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

Amgen Trading Up 0.7%

Shares of NASDAQ:AMGN opened at $272.98 on Monday. The stock has a 50 day moving average of $288.86 and a 200 day moving average of $288.89. The company has a market cap of $146.96 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 2.37 and a beta of 0.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. 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 issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company's revenue for the quarter 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. As a group, equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued 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 3.5%. Amgen's dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Piper Sandler boosted their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday, August 25th. Citigroup raised their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Amgen has a consensus rating of "Hold" and an average price target of $309.70.

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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