Strategic Blueprint LLC Raises Stock Holdings in Amgen Inc. $AMGN

Key Points

• Strategic Blueprint LLC increased its stake in Amgen Inc. by 19.3%, owning 8,355 shares worth approximately $2.33 million at the end of the last quarter.
• Amgen reported record earnings of $6.02 per share, surpassing analysts' expectations and showing a 9.4% year-over-year revenue growth to $9.18 billion.
• The company declared a quarterly dividend of $2.38 per share, representing a yield of 3.3% with a payout ratio of 77.84%.

Strategic Blueprint LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 19.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,355 shares of the medical research company's stock after purchasing an additional 1,349 shares during the period. Strategic Blueprint LLC's holdings in Amgen were worth $2,333,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nuveen LLC purchased a new position in Amgen during the first quarter worth about $688,868,000. Federated Hermes Inc. increased its stake in shares of Amgen by 48.5% during the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company's stock valued at $634,680,000 after acquiring an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Amgen by 128.9% in the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company's stock worth $332,017,000 after acquiring an additional 600,096 shares during the last quarter. WoodTrust Financial Corp boosted its position in shares of Amgen by 8,223.6% in the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company's stock worth $166,307,000 after acquiring an additional 588,478 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in Amgen in the second quarter valued at approximately $156,812,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Down 1.0%

NASDAQ AMGN opened at $292.89 on Friday. 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 fifty-two week low of $253.30 and a fifty-two week high of $335.88. The business has a 50 day moving average price of $288.02 and a two-hundred day moving average price of $287.23. The stock has a market cap of $157.68 billion, a PE ratio of 23.95, a P/E/G ratio of 2.62 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts' consensus estimates 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 last year, the business earned $4.97 EPS. The business's revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed 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 was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen's payout ratio is currently 77.84%.

Analysts Set New Price Targets

A number of research firms have recently commented on AMGN. Bank of America upped their price objective on Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a report on Friday, September 26th. Raymond James Financial assumed coverage on Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating for the company. Morgan Stanley raised their price objective on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded Amgen from a "hold" rating to a "buy" rating in a report on Sunday, October 19th. Finally, UBS Group cut their price target 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. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $300.94.

Insider Activity

In other 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 transaction of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by insiders.

About Amgen

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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