West Oak Capital LLC Boosts Stake in Amgen Inc. $AMGN

Key Points

• West Oak Capital LLC increased its stake in Amgen Inc. by 15.7% in the second quarter, owning a total of 9,858 shares valued at approximately $2.75 million.
• Amgen Inc. reported $6.02 EPS for its last quarter, surpassing analyst expectations by $0.74 and achieving quarterly revenues of $9.18 billion.
• The company recently announced a quarterly dividend of $2.38 per share, reflecting a 3.3% dividend yield for shareholders.

West Oak Capital LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,858 shares of the medical research company's stock after acquiring an additional 1,335 shares during the period. West Oak Capital LLC's holdings in Amgen were worth $2,752,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMGN. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen during the first quarter worth about $25,000. First Pacific Financial lifted its stake in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after purchasing an additional 85 shares in the last quarter. 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 in the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of Amgen in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Performance

Shares of AMGN stock opened at $286.00 on Tuesday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $339.17. The firm has a market capitalization of $153.97 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 2.48 and a beta of 0.49. The business has a 50 day simple moving average of $290.35 and a 200 day simple moving average of $290.02. 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 (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates 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 period last year, the company 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio is 77.84%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction 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 sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.69% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on AMGN shares. Piper Sandler boosted their price target on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. Bank of America boosted their price target on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 23rd. William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $304.43.

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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