Envestnet Portfolio Solutions Inc. Has $14.92 Million Stock Position in Amgen Inc. $AMGN

Envestnet Portfolio Solutions Inc. grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,433 shares of the medical research company’s stock after acquiring an additional 264 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Amgen were worth $14,919,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Nuveen LLC bought a new stake in shares of Amgen in the first quarter valued at $688,868,000. Federated Hermes Inc. raised its stake 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 period. The Manufacturers Life Insurance Company raised its stake in shares of Amgen by 128.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock valued at $332,017,000 after purchasing an additional 600,096 shares during the period. WoodTrust Financial Corp raised its stake in shares of Amgen by 8,223.6% during the 2nd quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock valued at $166,307,000 after purchasing an additional 588,478 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of Amgen during the 2nd quarter valued at $156,812,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.69% of the company’s stock.

Amgen Price Performance

AMGN opened at $292.40 on Tuesday. The stock has a 50-day moving average price of $286.58 and a 200-day moving average price of $287.33. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock has a market capitalization of $157.42 billion, a P/E ratio of 23.91, a PEG ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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 return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period in the prior year, the business earned $4.97 EPS. The company’s revenue for the quarter 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 analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMGN. Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Morgan Stanley upped their target price on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Piper Sandler upped their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. Finally, Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a research note on Saturday. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $309.42.

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.