Janney Capital Management LLC Purchases 224 Shares of Amgen Inc. $AMGN

Janney Capital Management LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 27.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,037 shares of the medical research company’s stock after buying an additional 224 shares during the quarter. Janney Capital Management LLC’s holdings in Amgen were worth $290,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AMGN. Nuveen LLC acquired a new stake in Amgen in the first quarter valued at approximately $688,868,000. Federated Hermes Inc. lifted its holdings in shares of Amgen by 48.5% during the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock valued at $634,680,000 after purchasing an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Amgen by 128.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after purchasing an additional 600,096 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Amgen during the 2nd quarter worth $156,812,000. Finally, Assenagon Asset Management S.A. increased its position in Amgen by 1,505.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 518,604 shares of the medical research company’s stock valued at $144,799,000 after buying an additional 486,299 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 3.0%

NASDAQ AMGN opened at $282.20 on Wednesday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market capitalization of $151.93 billion, a PE ratio of 23.07, a P/E/G ratio of 2.38 and a beta of 0.49. The company has a fifty day moving average of $287.95 and a 200 day moving average of $288.57.

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 the consensus estimate of $5.28 by $0.74. The company 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 firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s payout ratio is 77.84%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Piper Sandler raised their price target on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Morgan Stanley upped their price target on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Raymond James Financial began coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Finally, UBS Group dropped their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $309.70.

Amgen Company 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.