Tamar Securities LLC Has $20.45 Million Holdings in Amgen Inc. $AMGN

Key Points

• Tamar Securities LLC increased its holdings in Amgen Inc. by 15.0%, owning a total of 65,650 shares valued at approximately $20.45 million.
• Amgen reported $6.02 earnings per share (EPS) for the last quarter, surpassing analysts' expectations, and its revenue reached $9.18 billion, reflecting a 9.4% year-over-year increase.
• The company's recently declared quarterly dividend is $2.38 per share, which translates to an annual yield of 3.4% and a payout ratio of 77.84%.

Tamar Securities LLC grew its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,650 shares of the medical research company's stock after buying an additional 8,562 shares during the period. Amgen makes up 2.8% of Tamar Securities LLC's portfolio, making the stock its 14th largest position. Tamar Securities LLC's holdings in Amgen were worth $20,453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. UniSuper Management Pty Ltd boosted its stake in Amgen by 1.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 89,784 shares of the medical research company's stock worth $27,972,000 after purchasing an additional 986 shares during the period. Rise Advisors LLC lifted its position in Amgen by 113.1% during the 1st quarter. Rise Advisors LLC now owns 1,089 shares of the medical research company's stock worth $339,000 after buying an additional 578 shares in the last quarter. Plancorp LLC lifted its position in Amgen by 1.4% during the 1st quarter. Plancorp LLC now owns 3,072 shares of the medical research company's stock worth $957,000 after buying an additional 43 shares in the last quarter. New England Asset Management Inc. lifted its position in Amgen by 10.1% during the 1st quarter. New England Asset Management Inc. now owns 21,295 shares of the medical research company's stock worth $6,634,000 after buying an additional 1,950 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its position in Amgen by 9.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 133,412 shares of the medical research company's stock worth $41,565,000 after buying an additional 11,694 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Activity

In other Amgen 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 transaction, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMGN has been the topic of several analyst reports. Raymond James Financial initiated coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Bank of America upped their target price on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Morgan Stanley upped their target price on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Amgen currently has an average rating of "Hold" and an average target price of $304.43.

Amgen Stock Performance

AMGN traded down $5.51 on Friday, reaching $277.23. The company had a trading volume of 695,842 shares, compared to its average volume of 2,766,796. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17. The stock has a market cap of $149.25 billion, a P/E ratio of 22.67, a P/E/G ratio of 2.42 and a beta of 0.49. The company's fifty day moving average is $292.98 and its 200 day moving average is $292.03. 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 (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS 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 for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the business earned $4.97 EPS. Amgen'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. As a group, analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. Amgen's dividend payout ratio is 77.84%.

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.