Summit Wealth Group LLC Co. Has $386,000 Holdings in Amgen Inc. $AMGN

Key Points

• Summit Wealth Group cut its Amgen stake by 76.2% in the fourth quarter, leaving it with 1,179 shares valued at about $386,000.
• Amgen’s latest quarterly results beat expectations, with EPS of $5.15 versus $4.77 expected and revenue of $8.62 billion, up 5.8% year over year.
• The company announced a quarterly dividend of $2.52 per share payable June 5, implying an annualized yield of about 3.0%; analysts currently have a consensus Hold rating with a $356.35 price target.

Summit Wealth Group LLC Co. lowered its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 76.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,179 shares of the medical research company's stock after selling 3,778 shares during the period. Summit Wealth Group LLC Co.'s holdings in Amgen were worth $386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. West Family Investments Inc. lifted its position in shares of Amgen by 1.1% in the third quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company's stock worth $779,000 after buying an additional 30 shares during the last quarter. Viawealth LLC lifted its position in shares of Amgen by 0.4% during the 3rd quarter. Viawealth LLC now owns 7,168 shares of the medical research company's stock worth $2,023,000 after purchasing an additional 30 shares during the last quarter. LOM Asset Management Ltd lifted its position in shares of Amgen by 1.2% during the 3rd quarter. LOM Asset Management Ltd now owns 2,554 shares of the medical research company's stock worth $721,000 after purchasing an additional 30 shares during the last quarter. Smith Salley Wealth Management lifted its position in shares of Amgen by 0.3% during the 4th quarter. Smith Salley Wealth Management now owns 10,786 shares of the medical research company's stock worth $3,530,000 after purchasing an additional 30 shares during the last quarter. Finally, Evergreen Private Wealth LLC lifted its position in shares of Amgen by 4.0% during the 4th quarter. Evergreen Private Wealth LLC now owns 785 shares of the medical research company's stock worth $257,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays assumed coverage on Amgen in a research note on Friday, February 20th. They set an "equal weight" rating and a $350.00 price target on the stock. Erste Group Bank reiterated a "hold" rating on shares of Amgen in a research note on Tuesday, May 5th. The Goldman Sachs Group upped their price objective on Amgen from $415.00 to $425.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Sanford C. Bernstein lowered Amgen from an "outperform" rating to a "market perform" rating and set a $335.00 price objective on the stock. in a research note on Tuesday, January 20th. Finally, Citigroup upped their price objective on Amgen from $315.00 to $345.00 and gave the company a "neutral" rating in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $356.35.

Amgen Stock Up 0.0%

Shares of AMGN opened at $336.45 on Thursday. The company has a market capitalization of $181.58 billion, a P/E ratio of 23.41, a PEG ratio of 3.38 and a beta of 0.44. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. Amgen Inc. has a one year low of $261.43 and a one year high of $391.29. The business's 50 day simple moving average is $351.05 and its 200-day simple moving average is $342.80.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping the consensus estimate of $4.77 by $0.38. The business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.Amgen's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 22.36 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be issued a $2.52 dividend. This represents a $10.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, May 15th. Amgen's payout ratio is presently 70.15%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the transaction, the senior vice president directly owned 7,009 shares of the company's stock, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is owned by insiders.

Amgen Company Profile

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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