Alhambra Investment Management LLC Has $1.11 Million Stock Holdings in Amgen Inc. $AMGN

Alhambra Investment Management LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,976 shares of the medical research company’s stock after purchasing an additional 148 shares during the quarter. Alhambra Investment Management LLC’s holdings in Amgen were worth $1,110,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen during the 1st quarter valued at $25,000. First Pacific Financial boosted its holdings in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Activest Wealth Management boosted its holdings in shares of Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 103 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of several recent research reports. UBS Group cut their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Piper Sandler raised their price objective on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Citigroup raised their price objective on Amgen from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Finally, Morgan Stanley lifted their target price on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $304.43.

Amgen Stock Performance

Shares of Amgen stock opened at $286.81 on Wednesday. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The firm has a market capitalization of $154.41 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.48 and a beta of 0.49. The business has a 50-day simple moving average of $290.23 and a 200 day simple moving average of $290.00. 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 issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the company posted $4.97 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated 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 sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.69% of the stock is 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.