Penn Davis Mcfarland Inc. Has $5.26 Million Holdings in Amgen Inc. $AMGN

Penn Davis Mcfarland Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,831 shares of the medical research company’s stock after selling 125 shares during the quarter. Penn Davis Mcfarland Inc.’s holdings in Amgen were worth $5,258,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its position in shares of Amgen by 23.5% during the fourth 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 last quarter. Heck Capital Advisors LLC bought a new position in shares of Amgen in the 4th quarter valued at about $36,000. Virtue Capital Management LLC boosted its stake in shares of 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 purchasing an additional 95 shares during the last quarter. Menard Financial Group LLC acquired a new position in Amgen in the fourth quarter valued at approximately $79,000. Finally, Park Square Financial Group LLC acquired a new position in Amgen in the fourth quarter valued at approximately $130,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMGN. Piper Sandler lifted 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. Bank of America upped their target price on shares of Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a research note on Wednesday, July 23rd. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. UBS Group decreased their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Finally, Morgan Stanley raised their price target on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $309.15.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction 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 completion of the sale, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.76% of the stock is owned by insiders.

Amgen Stock Down 2.6%

Amgen stock opened at $279.22 on Thursday. The firm has a market cap of $150.32 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.49 and a beta of 0.49. 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 firm has a 50 day moving average price of $289.84 and a two-hundred day moving average price of $289.92. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88.

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

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio is currently 77.84%.

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.