D.A. Davidson & CO. Purchases 6,222 Shares of Amgen Inc. $AMGN

D.A. Davidson & CO. increased its position in Amgen Inc. (NASDAQ:AMGN) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 243,054 shares of the medical research company’s stock after purchasing an additional 6,222 shares during the quarter. D.A. Davidson & CO.’s holdings in Amgen were worth $68,590,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new position in Amgen in the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 85 shares during the period. Evelyn Partners Investment Management LLP acquired a new position in shares of Amgen in the second quarter valued at about $32,000. Howard Hughes Medical Institute bought a new position in Amgen during the second quarter worth about $32,000. Finally, Quaker Wealth Management LLC raised its stake in Amgen by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after purchasing an additional 240 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Activity

In related news, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the transaction, the senior vice president directly owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This trade represents a 11.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares in the company, valued at approximately $14,120,924.09. The trade was a 14.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 10,908 shares of company stock valued at $3,674,966. Insiders own 0.69% of the company’s stock.

Amgen Trading Up 0.1%

Shares of AMGN stock opened at $327.64 on Monday. Amgen Inc. has a twelve month low of $257.05 and a twelve month high of $346.38. The stock’s fifty day simple moving average is $326.08 and its 200 day simple moving average is $302.97. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45. The firm has a market capitalization of $176.43 billion, a P/E ratio of 25.32, a P/E/G ratio of 2.98 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. During the same period last year, the firm posted $5.58 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be given a $2.52 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. This represents a $10.08 annualized dividend and a yield of 3.1%. Amgen’s dividend payout ratio is currently 73.57%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMGN. Argus increased their target price on shares of Amgen from $310.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, December 30th. Truist Financial began coverage on Amgen in a research report on Monday, November 24th. They set a “hold” rating and a $318.00 price target on the stock. Scotiabank assumed coverage on Amgen in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price objective on the stock. Morgan Stanley cut their target price on Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, December 12th. Finally, Guggenheim increased their target price on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and an average target price of $335.35.

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.