TD Private Client Wealth LLC Grows Stock Position in Amgen Inc. $AMGN

Key Points

• TD Private Client Wealth LLC increased its holdings in Amgen Inc. by 6.2% during the second quarter, now owning 25,608 shares valued at approximately $7.15 million.
• Amgen recently reported earnings of $6.02 per share for the last quarter, significantly exceeding analyst expectations and reflecting a 9.4% year-over-year revenue growth.
• The company declared a $2.38 quarterly dividend with an annualized yield of 3.3%, with a current payout ratio of about 77.84%.

TD Private Client Wealth LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,608 shares of the medical research company's stock after buying an additional 1,495 shares during the quarter. TD Private Client Wealth LLC's holdings in Amgen were worth $7,150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Octavia Wealth Advisors LLC grew its holdings in Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock valued at $759,000 after purchasing an additional 35 shares during the last quarter. Crumly & Associates Inc. boosted its position in shares of Amgen by 3.2% during the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock valued at $320,000 after buying an additional 36 shares during the period. Maryland Capital Advisors Inc. grew its stake in shares of Amgen by 5.2% during the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock valued at $204,000 after buying an additional 36 shares during the last quarter. Affinity Capital Advisors LLC lifted its stake in shares of Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after acquiring an additional 37 shares during the last quarter. Finally, Accredited Investors Inc. boosted its holdings in Amgen by 1.7% during the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock valued at $674,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Up 0.3%

AMGN opened at $286.81 on Wednesday. The company has a fifty day moving average of $290.23 and a two-hundred day moving average of $290.00. 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 Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The stock has a market capitalization of $154.41 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.48 and a beta of 0.49.

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 (EPS) for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.3%. Amgen's payout ratio is currently 77.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMGN shares. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Bank of America lifted their price objective on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Morgan Stanley upped their target price on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Piper Sandler lifted their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. Finally, Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $304.43.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.69% of the company's stock.

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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