Legal Advantage Investments Inc. Has $805,000 Position in Amgen Inc. $AMGN

Legal Advantage Investments Inc. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,883 shares of the medical research company’s stock after selling 225 shares during the quarter. Legal Advantage Investments Inc.’s holdings in Amgen were worth $805,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMGN. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen during the 1st quarter worth about $25,000. First Pacific Financial grew its position in shares of 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 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 1st 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 during the period. Activest Wealth Management grew its position in shares of 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 buying an additional 103 shares during the period. Finally, Nova Wealth Management Inc. grew its position in shares of 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 buying an additional 122 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 value 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. The trade was a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Bank of America lifted their price objective on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Citigroup lifted their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Piper Sandler lifted their price objective on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus price target of $309.42.

Amgen Trading Down 1.8%

NASDAQ AMGN opened at $290.13 on Friday. The stock has a market capitalization of $156.19 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.52 and a beta of 0.49. The stock’s 50 day moving average price is $286.77 and its two-hundred day moving average price is $287.55. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen’s payout ratio is presently 77.84%.

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.