Pine Haven Investment Counsel Inc Has $1.83 Million Stock Position in Amgen Inc. $AMGN

Pine Haven Investment Counsel Inc raised its stake in Amgen Inc. (NASDAQ:AMGN) by 1.0% in the second quarter, Holdings Channel.com reports. The firm owned 6,564 shares of the medical research company’s stock after acquiring an additional 66 shares during the period. Amgen makes up approximately 1.4% of Pine Haven Investment Counsel Inc’s holdings, making the stock its 18th largest holding. Pine Haven Investment Counsel Inc’s holdings in Amgen were worth $1,833,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC lifted its position in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after acquiring an additional 5,226 shares during the period. United Advisor Group LLC acquired a new position in shares of Amgen in the fourth quarter valued at $308,000. Armis Advisers LLC bought a new position in Amgen in the fourth quarter worth $251,000. Heck Capital Advisors LLC acquired a new stake in Amgen during the fourth quarter worth $36,000. Finally, Virtue Capital Management LLC increased its holdings in Amgen by 14.0% in the 4th quarter. Virtue Capital Management LLC now owns 775 shares of the medical research company’s stock valued at $202,000 after buying an additional 95 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.3%

NASDAQ AMGN opened at $286.81 on Wednesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock’s 50 day moving average price is $290.23 and its two-hundred day moving average price is $290.00. The stock has a market capitalization of $154.41 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.48 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its quarterly 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 during 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 period in the prior year, the firm posted $4.97 earnings per share. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors 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 dividend on an annualized basis and a yield of 3.3%. Amgen’s dividend payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent research reports. Citigroup lifted their target price on shares of Amgen from $305.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Cantor Fitzgerald restated a “neutral” rating and set a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. Morgan Stanley lifted their price objective on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Bank of America raised their target price on Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 23rd. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $304.43.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by corporate insiders.

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.