Venture Visionary Partners LLC Purchases 17,976 Shares of Amgen Inc. $AMGN

Key Points

• Venture Visionary Partners LLC increased its stake in Amgen Inc. by 82.0% in the second quarter, now holding a total of 39,896 shares valued at approximately $11.14 million.
• Amgen recently announced a quarterly dividend of $2.38 per share, reflecting an annualized yield of 3.5% and a payout ratio of 77.84%.
• As of now, Amgen has a consensus rating of "Hold" from analysts, with an average price target of $309.70.

Venture Visionary Partners LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 82.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,896 shares of the medical research company's stock after buying an additional 17,976 shares during the quarter. Venture Visionary Partners LLC's holdings in Amgen were worth $11,139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Octavia Wealth Advisors LLC raised its holdings in Amgen by 1.5% in the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after purchasing an additional 35 shares in the last quarter. Crumly & Associates Inc. raised its holdings in Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock worth $320,000 after purchasing an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. raised its holdings in Amgen by 5.2% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock worth $204,000 after purchasing an additional 36 shares in the last quarter. Affinity Capital Advisors LLC raised its holdings in Amgen by 4.5% in the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after purchasing an additional 37 shares in the last quarter. Finally, Accredited Investors Inc. raised its holdings in Amgen by 1.7% in the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after purchasing an additional 37 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The shares were 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 of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 0.69% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMGN. Morgan Stanley upped their price objective on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Bank of America upped their price objective on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a report on Friday. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Finally, William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Amgen presently has a consensus rating of "Hold" and an average price target of $309.70.

Amgen Stock Up 0.7%

NASDAQ:AMGN opened at $272.98 on Monday. The firm's 50-day moving average price is $288.86 and its 200-day moving average price is $288.89. The company has a market capitalization of $146.96 billion, a PE ratio of 22.32, a P/E/G ratio of 2.37 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed 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. This represents a $9.52 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's dividend payout ratio is 77.84%.

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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