Triad Wealth Partners LLC Takes $206,000 Position in Amgen Inc. $AMGN

Triad Wealth Partners LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the second quarter, Holdings Channel reports. The institutional investor bought 738 shares of the medical research company’s stock, valued at approximately $206,000.

A number of other institutional investors also recently modified their holdings of AMGN. Nuveen LLC bought a new position in Amgen in the 1st quarter worth approximately $688,868,000. Federated Hermes Inc. raised its position in Amgen by 48.5% in the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock worth $634,680,000 after purchasing an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in 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 during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Amgen in the 2nd quarter worth approximately $156,812,000. Finally, Assenagon Asset Management S.A. raised its position in Amgen by 1,505.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 518,604 shares of the medical research company’s stock worth $144,799,000 after purchasing an additional 486,299 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $297.89 on Friday. The company’s 50 day moving average price is $287.34 and its two-hundred day moving average price is $288.17. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The firm has a market cap of $160.37 billion, a PE ratio of 24.36, a PEG ratio of 2.59 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 (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the business posted $4.97 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company 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. The ex-dividend date was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AMGN shares. Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Piper Sandler boosted their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amgen in a report on Saturday, September 27th. Morgan Stanley lifted their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Finally, Raymond James Financial started coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. Seven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $309.70.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred 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 owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.76% of the company’s stock.

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.