Raleigh Capital Management Inc. Acquires 883 Shares of Amgen Inc. $AMGN

Raleigh Capital Management Inc. boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 15.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,484 shares of the medical research company’s stock after acquiring an additional 883 shares during the period. Raleigh Capital Management Inc.’s holdings in Amgen were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Octavia Wealth Advisors LLC raised its stake in shares of Amgen by 1.5% in the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock valued at $759,000 after purchasing an additional 35 shares during the period. Crumly & Associates Inc. raised its stake in shares of Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after purchasing an additional 36 shares during the period. Maryland Capital Advisors Inc. raised its stake in shares of Amgen by 5.2% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock valued at $204,000 after purchasing an additional 36 shares during the period. Affinity Capital Advisors LLC raised its stake in shares of Amgen by 4.5% in the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock valued at $246,000 after purchasing an additional 37 shares during the period. Finally, Accredited Investors Inc. raised its stake in shares of Amgen by 1.7% in the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock valued at $674,000 after purchasing an additional 37 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMGN has been the topic of several recent research reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. Citigroup lifted their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Bank of America lifted their target price on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday. UBS Group lowered their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Finally, Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $309.70.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $273.97 on Tuesday. The business’s 50 day moving average price is $288.42 and its two-hundred day moving average price is $288.61. The company has a market cap of $147.49 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 2.37 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. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88.

Amgen (NASDAQ:AMGN) last announced 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 for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s payout ratio is 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.