WBI Investments LLC Purchases Shares of 3,232 Amgen Inc. $AMGN

Key Points

• WBI Investments LLC purchased 3,232 shares of Amgen Inc. valued at approximately $1,007,000 during the first quarter, marking a notable institutional investment.
• The company's recent earnings report showed a profit of $6.02 per share, surpassing analyst expectations and demonstrating a 9.4% year-over-year revenue increase.
• Amgen announced a quarterly dividend of $2.38 per share, resulting in an annualized yield of 3.4%, indicating ongoing shareholder returns.

WBI Investments LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,232 shares of the medical research company's stock, valued at approximately $1,007,000.

A number of other institutional investors have also bought and sold shares of the company. Westbourne Investments Inc. boosted its position in Amgen by 5.5% during the first quarter. Westbourne Investments Inc. now owns 1,925 shares of the medical research company's stock valued at $600,000 after acquiring an additional 100 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Amgen by 174.3% during the 1st quarter. Acadian Asset Management LLC now owns 20,328 shares of the medical research company's stock worth $6,329,000 after purchasing an additional 12,918 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Amgen by 9.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 8,065 shares of the medical research company's stock worth $2,513,000 after purchasing an additional 669 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Amgen by 17.9% during the 1st quarter. Focus Partners Wealth now owns 221,488 shares of the medical research company's stock worth $69,006,000 after purchasing an additional 33,626 shares in the last quarter. Finally, Integrity Alliance LLC. boosted its position in shares of Amgen by 66.2% during the 1st quarter. Integrity Alliance LLC. now owns 8,436 shares of the medical research company's stock worth $2,628,000 after purchasing an additional 3,359 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $278.51 on Thursday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17. The stock has a market cap of $149.94 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.43 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The firm's 50-day simple moving average is $293.29 and its 200 day simple moving average is $292.22.

Amgen (NASDAQ:AMGN - Get Free Report) last announced 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. The business had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.4%. Amgen's dividend payout ratio (DPR) is 77.84%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMGN shares. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. William Blair reissued an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Citigroup increased their price objective on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Raymond James Financial assumed coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Finally, Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Amgen presently has an average rating of "Hold" and an average target price of $304.43.

Insider Buying and Selling

In other Amgen 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 value of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares in the company, valued at approximately $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 accessible through the SEC website. 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.

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