Lake Street Financial LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN – Get Rating) by 2.6% in the first quarter, Holdings Channel reports. The firm owned 2,164 shares of the medical research company’s stock after purchasing an additional 55 shares during the period. Lake Street Financial LLC’s holdings in Amgen were worth $523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of AMGN. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in Amgen in the 4th quarter worth about $26,000. RFG Advisory LLC boosted its stake in Amgen by 3.8% in the 4th quarter. RFG Advisory LLC now owns 9,150 shares of the medical research company’s stock worth $2,058,000 after purchasing an additional 331 shares during the period. HC Advisors LLC purchased a new stake in shares of Amgen in the 4th quarter valued at about $242,000. Clarius Group LLC raised its holdings in shares of Amgen by 1.9% in the 4th quarter. Clarius Group LLC now owns 7,069 shares of the medical research company’s stock valued at $1,590,000 after acquiring an additional 131 shares in the last quarter. Finally, Sigma Planning Corp raised its holdings in shares of Amgen by 27.7% in the 4th quarter. Sigma Planning Corp now owns 16,180 shares of the medical research company’s stock valued at $3,640,000 after acquiring an additional 3,513 shares in the last quarter. Institutional investors own 79.01% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on AMGN. BMO Capital Markets lowered their price target on Amgen from $263.00 to $243.00 in a report on Thursday, April 28th. Mizuho raised their price objective on Amgen from $202.00 to $208.00 in a report on Tuesday, May 10th. Oppenheimer reissued an “outperform” rating and set a $290.00 price objective on shares of Amgen in a report on Friday, June 24th. Piper Sandler raised their price objective on Amgen from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Friday. Finally, Morgan Stanley raised their price objective on Amgen from $239.00 to $253.00 and gave the company an “equal weight” rating in a report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $250.00.
Amgen Stock Performance
Amgen (NASDAQ:AMGN – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The medical research company reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.25. Amgen had a return on equity of 188.78% and a net margin of 24.92%. The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.53 billion. During the same period in the prior year, the business posted $4.38 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Amgen Inc. will post 17.38 EPS for the current fiscal year.
Amgen Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be paid a $1.94 dividend. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $7.76 annualized dividend and a dividend yield of 3.15%. Amgen’s dividend payout ratio is presently 65.76%.
Insider Activity at Amgen
In related news, EVP Jonathan P. Graham sold 13,500 shares of Amgen stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $241.81, for a total value of $3,264,435.00. Following the sale, the executive vice president now directly owns 37,333 shares in the company, valued at approximately $9,027,492.73. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director R Sanders Williams sold 600 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $250.00, for a total transaction of $150,000.00. Following the transaction, the director now directly owns 5,501 shares in the company, valued at approximately $1,375,250. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jonathan P. Graham sold 13,500 shares of Amgen stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $241.81, for a total transaction of $3,264,435.00. Following the sale, the executive vice president now directly owns 37,333 shares in the company, valued at approximately $9,027,492.73. The disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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