Turtle Creek Wealth Advisors LLC Buys Shares of 5,663 Amgen Inc. $AMGN

Key Points

• Turtle Creek Wealth Advisors LLC recently acquired a stake in Amgen Inc., purchasing 5,663 shares valued at approximately $1.58 million.
• Analysts have mixed ratings on Amgen, with eight recommending a Buy, eleven a Hold, and one a Sell, while the consensus price target is $309.42.
• Amgen declared a quarterly dividend of $2.38 per share, reflecting an annualized dividend yield of 3.2%.

Turtle Creek Wealth Advisors LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,663 shares of the medical research company's stock, valued at approximately $1,581,000.

A number of other institutional investors also recently bought and sold shares of AMGN. Nuveen LLC bought a new position in Amgen in the first quarter valued at about $688,868,000. Federated Hermes Inc. lifted its holdings in Amgen by 48.5% in the first 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 period. The Manufacturers Life Insurance Company lifted its holdings in 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 valued at $332,017,000 after acquiring an additional 600,096 shares during the period. WoodTrust Financial Corp lifted its holdings in Amgen by 8,223.6% in the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company's stock valued at $166,307,000 after acquiring an additional 588,478 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Amgen in the second quarter worth about $156,812,000. Institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AMGN shares. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, October 11th. Bank of America raised their price objective on Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a research note on Friday, September 26th. Piper Sandler raised their price objective on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. UBS Group decreased their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Finally, Citigroup raised their price objective on Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Amgen presently has an average rating of "Hold" and a consensus price target of $309.42.

Amgen Stock Up 1.2%

Shares of AMGN opened at $297.32 on Thursday. The business's 50 day moving average is $286.71 and its 200 day moving average is $287.44. The company has a market capitalization of $160.07 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

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

Amgen Dividend Announcement

The company also recently declared 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. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is currently 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's 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 completion of the transaction, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.76% of the stock is owned by corporate 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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