Capital Investment Counsel LLC Has $5.75 Million Stake in Amgen Inc. $AMGN

Capital Investment Counsel LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,442 shares of the medical research company’s stock after selling 176 shares during the quarter. Capital Investment Counsel LLC’s holdings in Amgen were worth $5,745,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. KPP Advisory Services LLC boosted its stake in Amgen by 87.1% in the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after buying an additional 2,716 shares in the last quarter. Advisor Resource Council acquired a new position in Amgen in the first quarter worth $1,331,000. Trinity Legacy Partners LLC boosted its stake in Amgen by 3.9% in the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after purchasing an additional 612 shares in the last quarter. DLK Investment Management LLC boosted its stake in Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock worth $6,384,000 after purchasing an additional 1,387 shares in the last quarter. Finally, Founders Financial Alliance LLC boosted its stake in Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock worth $491,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. UBS Group reduced their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Bank of America boosted their price objective on Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 23rd. Morgan Stanley boosted their price objective on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Finally, Piper Sandler boosted their price objective on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $304.43.

Amgen Trading Up 0.7%

AMGN stock opened at $287.71 on Monday. The company has a market cap of $154.89 billion, a P/E ratio of 23.52, a PEG ratio of 2.50 and a beta of 0.49. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The business has a fifty day moving average of $293.13 and a 200-day moving average of $292.88.

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

Amgen Dividend Announcement

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

Insider Transactions at Amgen

In related 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 sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares of the company’s stock, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.69% 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.