Vestmark Advisory Solutions Inc. Makes New Investment in Amgen Inc. $AMGN

Key Points

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Vestmark Advisory Solutions Inc. acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,023 shares of the medical research company's stock, valued at approximately $319,000.

Several other large investors also recently modified their holdings of AMGN. Pinney & Scofield Inc. bought a new stake in Amgen during the 4th quarter worth approximately $26,000. First Pacific Financial grew its position in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after acquiring an additional 67 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Amgen during the 4th quarter worth approximately $36,000. South Plains Financial Inc. bought a new stake in Amgen during the 4th quarter worth approximately $37,000. Finally, Global Wealth Strategies & Associates grew its position in Amgen by 1,388.9% during the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after acquiring an additional 125 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Guggenheim initiated coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Mizuho increased their price objective on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $303.76.

Amgen Trading Down 0.7%

Shares of AMGN stock traded down $2.04 during trading hours on Friday, reaching $293.72. The company had a trading volume of 1,643,970 shares, compared to its average volume of 2,104,120. The company has a 50 day moving average of $293.43 and a 200 day moving average of $293.27. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The firm has a market cap of $158.13 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 2.55 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17.

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

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.76% of the company's stock.

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.