Amgen Inc. $AMGN Shares Purchased by YHB Investment Advisors Inc.

Key Points

• YHB Investment Advisors Inc. increased its stake in Amgen Inc. by 2.5%, now owning 44,657 shares valued at approximately $12.47 million, making Amgen its 26th largest holding.
• Major institutional investors have significantly increased their holdings in Amgen, with 76.50% of the company's stock owned by institutions and hedge funds.
• Amgen recently reported quarterly earnings that outperformed previous estimates, generating $9.18 billion in revenue, a 9.4% year-over-year increase.

YHB Investment Advisors Inc. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,657 shares of the medical research company's stock after buying an additional 1,087 shares during the period. Amgen comprises 1.0% of YHB Investment Advisors Inc.'s portfolio, making the stock its 26th largest holding. YHB Investment Advisors Inc.'s holdings in Amgen were worth $12,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. ARS Wealth Advisors Group LLC purchased a new stake in Amgen during the second quarter worth about $1,053,000. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Amgen by 57.1% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 299,578 shares of the medical research company's stock valued at $83,645,000 after purchasing an additional 108,842 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its holdings in shares of Amgen by 5.5% in the second quarter. Baker Tilly Wealth Management LLC now owns 909 shares of the medical research company's stock valued at $254,000 after purchasing an additional 47 shares in the last quarter. Fulton Bank N.A. lifted its holdings in shares of Amgen by 2.2% in the second quarter. Fulton Bank N.A. now owns 17,992 shares of the medical research company's stock valued at $5,024,000 after purchasing an additional 381 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its holdings in shares of Amgen by 0.6% in the second quarter. NorthCrest Asset Manangement LLC now owns 102,549 shares of the medical research company's stock valued at $30,584,000 after purchasing an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.69% of the company's stock.

Amgen Trading Up 0.2%

Shares of AMGN traded up $0.59 on Monday, hitting $286.00. 3,050,077 shares of the stock traded hands, compared to its average volume of 2,339,546. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The firm 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 stock's 50 day moving average is $290.35 and its two-hundred day moving average is $290.02. 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 announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) 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 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 quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen's dividend payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMGN. Raymond James Financial began coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a "market perform" rating on the stock. Piper Sandler upped their price target on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday, August 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Bank of America upped their price target on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of "Hold" and a consensus price target 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.