Capital Investment Advisors LLC Raises Stake in Amgen Inc. $AMGN

Capital Investment Advisors LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 30,935 shares of the medical research company’s stock after purchasing an additional 94 shares during the period. Capital Investment Advisors LLC’s holdings in Amgen were worth $8,637,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMGN. Wealth Preservation Advisors LLC purchased a new stake in Amgen during the 1st quarter worth about $25,000. First Pacific Financial lifted its holdings in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after purchasing an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in 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 worth $29,000 after purchasing an additional 85 shares in the last quarter. Activest Wealth Management lifted its holdings in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. lifted its holdings in Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock worth $38,000 after purchasing an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMGN. Bank of America boosted their price objective on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday. Raymond James Financial started coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Wall Street Zen downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $309.70.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by insiders.

Amgen Price Performance

AMGN opened at $273.97 on Tuesday. The stock’s 50 day simple moving average is $288.42 and its 200 day simple moving average is $288.61. 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 Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The firm has a market cap of $147.49 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.37 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the company earned $4.97 EPS. Amgen’s revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

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

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.