Stone Summit Wealth LLC Has $512,000 Position in Amgen Inc. $AMGN

Stone Summit Wealth LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,835 shares of the medical research company’s stock after purchasing an additional 97 shares during the quarter. Stone Summit Wealth LLC’s holdings in Amgen were worth $512,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealth Preservation Advisors LLC acquired a new stake in Amgen during the first quarter worth about $25,000. First Pacific Financial grew its position in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after buying an additional 85 shares in the last quarter. Activest Wealth Management grew its position in Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after buying an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. grew its position in Amgen by 12,200.0% during the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock worth $38,000 after buying an additional 122 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

NASDAQ:AMGN opened at $272.98 on Friday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The firm has a 50 day moving average of $288.86 and a 200-day moving average of $289.06. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock has a market capitalization of $146.96 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 2.37 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $8.86 billion. During the same quarter in the previous year, the company posted $4.97 earnings per share. Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders 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 dividend yield of 3.5%. Amgen’s payout ratio is 77.84%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMGN. Morgan Stanley lifted their target price on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Citigroup lifted their target price on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America lifted their target price on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday. UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Finally, Raymond James Financial started coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $309.70.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 of the company’s stock, valued at $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 SEC, which is available at the SEC website. Company insiders own 0.76% 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.