KG&L Capital Management LLC Increases Stake in Amgen Inc. $AMGN

KG&L Capital Management LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 98.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,451 shares of the medical research company’s stock after buying an additional 2,698 shares during the quarter. KG&L Capital Management LLC’s holdings in Amgen were worth $1,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Wealth Preservation Advisors LLC bought a new position in shares of Amgen during the 1st quarter valued at approximately $25,000. First Pacific Financial boosted its position 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 during the last quarter. CBIZ Investment Advisory Services LLC boosted its position 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 during the last quarter. Activest Wealth Management boosted its position 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 during the last quarter. Finally, Nova Wealth Management Inc. boosted its position in shares of Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 122 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by company insiders.

Amgen Stock Performance

Shares of Amgen stock opened at $272.98 on Friday. The firm has a market cap of $146.96 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.37 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The stock’s fifty day moving average price is $288.86 and its 200-day moving average price is $289.06.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS 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 analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, August 22nd. Amgen’s payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group lowered their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Citigroup raised their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America raised their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday. Finally, Morgan Stanley raised their price target on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $309.70.

Amgen 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.