Joel Isaacson & Co. LLC Purchases 1,800 Shares of Amgen Inc. $AMGN

Joel Isaacson & Co. LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 29.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 7,998 shares of the medical research company’s stock after purchasing an additional 1,800 shares during the period. Joel Isaacson & Co. LLC’s holdings in Amgen were worth $2,257,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Wealth Quarterback LLC increased its holdings in shares of Amgen by 1.6% during the 3rd quarter. Wealth Quarterback LLC now owns 2,210 shares of the medical research company’s stock worth $624,000 after acquiring an additional 34 shares during the last quarter. Fairvoy Private Wealth LLC raised its position in shares of Amgen by 1.1% in the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after purchasing an additional 35 shares during the period. Nicholson Wealth Management Group LLC boosted its holdings in shares of Amgen by 0.6% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock worth $1,652,000 after buying an additional 35 shares during the period. LS Investment Advisors LLC raised its holdings in Amgen by 4.1% in the 3rd quarter. LS Investment Advisors LLC now owns 885 shares of the medical research company’s stock valued at $250,000 after acquiring an additional 35 shares during the period. Finally, Crown Wealth Group LLC boosted its holdings in shares of Amgen by 4.0% during the third quarter. Crown Wealth Group LLC now owns 910 shares of the medical research company’s stock worth $257,000 after acquiring an additional 35 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on AMGN shares. BMO Capital Markets upped their price objective on Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Wells Fargo & Company increased their target price on shares of Amgen from $300.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 10th. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 15th. Finally, Argus boosted their price target on Amgen from $310.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, December 30th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $339.24.

Amgen Trading Up 0.2%

Shares of AMGN opened at $331.00 on Wednesday. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. Amgen Inc. has a 52-week low of $261.43 and a 52-week high of $346.38. The firm has a market cap of $178.24 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 2.94 and a beta of 0.45. The business’s fifty day moving average is $331.55 and its 200-day moving average is $306.64.

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

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be paid a $2.52 dividend. This represents a $10.08 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. Amgen’s payout ratio is currently 77.90%.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were 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 in the company, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the completion of the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 10,908 shares of company stock valued at $3,674,966. 0.69% of the stock is currently owned by insiders.

Amgen 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.