Phoenix Wealth Advisors Grows Position in Amgen Inc. $AMGN

Phoenix Wealth Advisors lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,836 shares of the medical research company’s stock after buying an additional 157 shares during the quarter. Phoenix Wealth Advisors’ holdings in Amgen were worth $884,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Continuum Advisory LLC raised its holdings in shares of Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after buying an additional 35 shares during the period. Octavia Wealth Advisors LLC raised its holdings in shares of Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock valued at $759,000 after buying an additional 35 shares during the period. Affinity Capital Advisors LLC raised its holdings in shares of Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock valued at $246,000 after buying an additional 37 shares during the period. Accredited Investors Inc. raised its holdings in shares of Amgen by 1.7% during the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock valued at $674,000 after buying an additional 37 shares during the period. Finally, Rockline Wealth Management LLC raised its holdings in shares of Amgen by 3.2% during the 1st quarter. Rockline Wealth Management LLC now owns 1,240 shares of the medical research company’s stock valued at $386,000 after buying an additional 38 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Down 0.7%

NASDAQ:AMGN opened at $293.72 on Friday. The business has a 50 day simple moving average of $293.43 and a 200 day simple moving average of $293.27. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The firm has a market capitalization of $158.13 billion, a P/E ratio of 24.02, a P/E/G ratio of 2.55 and a beta of 0.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $339.17.

Amgen (NASDAQ:AMGN) last announced its 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 firm had revenue of $9.18 billion for 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 revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen’s payout ratio is currently 77.84%.

Analysts Set New Price Targets

Several brokerages recently commented on AMGN. Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 target price on shares of Amgen in a report 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. Piper Sandler restated an “overweight” rating and set a $328.00 price objective on shares of Amgen in a research note on Friday, June 27th. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Mizuho lifted their target price on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and an average target price of $303.76.

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.76% 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.