Southeast Asset Advisors LLC Increases Stock Position in Amgen Inc. $AMGN

Southeast Asset Advisors LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 47.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,855 shares of the medical research company’s stock after purchasing an additional 595 shares during the period. Southeast Asset Advisors LLC’s holdings in Amgen were worth $578,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Forum Financial Management LP increased its stake in Amgen by 0.7% during the 4th quarter. Forum Financial Management LP now owns 352,784 shares of the medical research company’s stock valued at $91,950,000 after purchasing an additional 2,411 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Amgen by 12.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 36,971 shares of the medical research company’s stock valued at $9,636,000 after purchasing an additional 4,232 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Amgen by 3.4% in the fourth quarter. Integrated Wealth Concepts LLC now owns 23,256 shares of the medical research company’s stock worth $6,061,000 after acquiring an additional 765 shares during the period. Finally, Nebula Research & Development LLC acquired a new stake in shares of Amgen in the fourth quarter worth $1,181,000. 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 Amgen stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 approximately $2,141,000.91. The trade was 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. Also, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares of the company’s stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

Amgen Price Performance

Shares of AMGN opened at $293.72 on Friday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. The stock has a market cap of $158.13 billion, a PE ratio of 24.02, a P/E/G ratio of 2.53 and a beta of 0.49. The firm has a 50-day simple moving average of $293.43 and a two-hundred day simple moving average of $293.17. 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) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period last year, the business earned $4.97 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMGN. Piper Sandler restated an “overweight” rating and set a $328.00 price target on shares of Amgen in a research report on Friday, June 27th. UBS Group decreased their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Mizuho raised their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Guggenheim assumed coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective for the company. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $303.76.

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.