HCR Wealth Advisors Increases Stake in Amgen Inc. $AMGN

HCR Wealth Advisors increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,802 shares of the medical research company’s stock after buying an additional 54 shares during the period. HCR Wealth Advisors’ holdings in Amgen were worth $1,341,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AMGN. Wealth Preservation Advisors LLC acquired a new position in Amgen during the 1st quarter worth $25,000. First Pacific Financial boosted its stake in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after buying an additional 67 shares during the period. CBIZ Investment Advisory Services LLC grew its position in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after buying an additional 85 shares in the last quarter. Activest Wealth Management increased its stake in shares of Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after buying an additional 103 shares during the period. Finally, Nova Wealth Management Inc. raised its holdings in Amgen by 12,200.0% in the first 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 in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of Amgen stock opened at $273.97 on Tuesday. The firm’s fifty day simple moving average is $288.42 and its 200-day simple moving average is $288.61. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The stock has a market capitalization of $147.49 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.37 and a beta of 0.49. 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 quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

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

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president owned 7,209 shares of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AMGN shares. Piper Sandler increased their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. Citigroup increased their target price on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Raymond James Financial assumed coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Finally, Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $309.70.

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.