Wealth Enhancement Advisory Services LLC Acquires 14,017 Shares of Amgen Inc. $AMGN

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Amgen Inc. by 3.6% during the second quarter, owning 399,185 shares valued at approximately $119 million.
• Amgen recently reported a quarterly EPS of $6.02, exceeding analysts' estimates of $5.28, with a revenue of $9.18 billion, indicating a year-over-year growth of 9.4%.
• The company declared a quarterly dividend of $2.38, translating to an annual yield of 3.5%, with a payout ratio of 77.84%.

Wealth Enhancement Advisory Services LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 399,185 shares of the medical research company's stock after purchasing an additional 14,017 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.07% of Amgen worth $119,053,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen during the first quarter valued at about $25,000. Pinney & Scofield Inc. acquired a new position in shares of Amgen in the fourth quarter worth approximately $26,000. First Pacific Financial lifted its stake in shares of Amgen by 304.5% in the first 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 period. CBIZ Investment Advisory Services LLC lifted its stake in shares of Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after acquiring an additional 85 shares during the period. Finally, Activest Wealth Management lifted its stake in shares of Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after acquiring an additional 103 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on AMGN. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Citigroup upped their target price on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Finally, Bank of America upped their target price on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $304.43.

Amgen Stock Up 0.2%

NASDAQ AMGN traded up $0.59 on Monday, reaching $286.00. The company had a trading volume of 3,050,077 shares, compared to its average volume of 2,339,546. The stock has a market capitalization of $153.97 billion, a P/E ratio of 23.39, a P/E/G ratio of 2.48 and a beta of 0.49. The company's fifty day moving average is $290.35 and its 200 day moving average is $290.02. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. 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 (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, topping the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's 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 sale, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.69% of the stock is currently owned by 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.