Spectrum Planning & Advisory Services Inc. Acquires New Position in Amgen Inc. $AMGN

Key Points

• Spectrum Planning & Advisory Services Inc. has acquired a new stake of 919 shares in Amgen Inc., valued at approximately $257,000 during the second quarter.
• Amgen's stock recently opened at $279.22 and has experienced a 2.6% decline, with a 12-month low of $253.30 and high of $335.88.
• The company reported an EPS of $6.02, exceeding estimates by $0.74, and anticipates FY 2025 guidance ranging from $20.200 to $21.300 EPS.

Spectrum Planning & Advisory Services Inc. acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 919 shares of the medical research company's stock, valued at approximately $257,000.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in Amgen by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock worth $16,471,790,000 after purchasing an additional 148,658 shares during the last quarter. Royal Bank of Canada grew its position in Amgen by 6.0% in the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company's stock worth $1,521,339,000 after purchasing an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Amgen by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company's stock worth $1,387,695,000 after purchasing an additional 243,306 shares during the last quarter. GAMMA Investing LLC grew its position in Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after purchasing an additional 3,653,205 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Amgen by 1.6% in the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company's stock worth $1,017,525,000 after purchasing an additional 52,734 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Amgen Stock Down 2.6%

AMGN stock opened at $279.22 on Thursday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The firm has a market cap of $150.32 billion, a PE ratio of 22.83, a P/E/G ratio of 2.49 and a beta of 0.49. The firm has a 50 day simple moving average of $289.84 and a 200 day simple moving average of $289.92. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results 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. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the prior year, the business earned $4.97 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.4%. Amgen's dividend payout ratio is currently 77.84%.

Analysts Set New Price Targets

Several research firms have commented on AMGN. 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. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Raymond James Financial began coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a "market perform" rating for the company. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Amgen currently has a consensus rating of "Hold" and a consensus price target of $309.15.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is currently owned by corporate insiders.

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.

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