Triumph Capital Management Takes Position in Amgen Inc. $AMGN

Key Points

• Triumph Capital Management acquired a new stake in Amgen Inc., purchasing 974 shares valued at approximately $272,000 in the second quarter.
• Amgen reported a quarterly earnings per share (EPS) of $6.02, exceeding estimates, along with a 9.4% increase in revenue year-over-year, totaling $9.18 billion.
• The company announced a quarterly dividend of $2.38 per share, translating to an annualized dividend of $9.52 and a yield of 3.5%.

Triumph Capital Management purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 974 shares of the medical research company's stock, valued at approximately $272,000.

Other large investors have also recently modified their holdings of the company. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen during the 1st quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new position in shares of Amgen during the 4th quarter valued at about $26,000. First Pacific Financial raised its holdings in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after buying an additional 85 shares in the last quarter. Finally, Activest Wealth Management raised its holdings in shares of Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after buying an additional 103 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Amgen Trading Down 0.5%

NASDAQ AMGN opened at $273.08 on Wednesday. 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 twelve month low of $253.30 and a twelve month high of $339.17. The firm has a market capitalization of $147.02 billion, a PE ratio of 22.33, a P/E/G ratio of 2.38 and a beta of 0.49. The stock's 50 day moving average is $291.69 and its 200 day moving average is $291.20.

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 the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the company posted $4.97 earnings per share. The firm'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. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.5%. Amgen's payout ratio is currently 77.84%.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.69% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMGN. Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating on the stock. William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Citigroup raised their price objective on Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Bank of America lifted their price target on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 23rd. Seven investment analysts have rated the stock with 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, the stock currently has an average rating of "Hold" and a consensus price target of $304.43.

Amgen Company 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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