Range Financial Group LLC Increases Stock Position in Amgen Inc. $AMGN

Range Financial Group LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,042 shares of the medical research company’s stock after purchasing an additional 493 shares during the period. Amgen comprises about 1.2% of Range Financial Group LLC’s portfolio, making the stock its 19th largest position. Range Financial Group LLC’s holdings in Amgen were worth $3,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KPP Advisory Services LLC raised its holdings in shares of Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after purchasing an additional 2,716 shares during the last quarter. Advisor Resource Council purchased a new stake in shares of Amgen in the first quarter valued at about $1,331,000. Trinity Legacy Partners LLC increased its holdings in Amgen by 3.9% during the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after buying an additional 612 shares during the last quarter. DLK Investment Management LLC increased its holdings in Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock worth $6,384,000 after buying an additional 1,387 shares during the last quarter. Finally, Founders Financial Alliance LLC increased its holdings in Amgen by 2.7% during the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock worth $491,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN opened at $274.40 on Tuesday. The company has a market capitalization of $147.73 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 2.40 and a beta of 0.49. 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 50-day moving average price of $292.17 and a 200-day moving average price of $291.33. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion during 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 revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is 77.84%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’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 value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AMGN. Piper Sandler raised their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Raymond James Financial began coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. Morgan Stanley raised their price objective on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Wall Street Zen downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, UBS Group decreased their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $304.43.

Amgen Company Profile

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.