Park Place Capital Corp Boosts Holdings in Amgen Inc. $AMGN

Park Place Capital Corp boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,064 shares of the medical research company’s stock after buying an additional 135 shares during the quarter. Park Place Capital Corp’s holdings in Amgen were worth $600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new stake in shares of Amgen during the first quarter valued at $25,000. First Pacific Financial boosted its stake in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 67 shares during the period. CBIZ Investment Advisory Services LLC boosted its stake in shares of 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 valued at $29,000 after purchasing an additional 85 shares during the period. Activest Wealth Management boosted its stake in shares of Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares during the period. Finally, Nova Wealth Management Inc. boosted its stake in shares of Amgen by 12,200.0% during the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 122 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMGN. UBS Group lowered their target price 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. Wall Street Zen lowered shares of Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Raymond James Financial began coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Bank of America boosted their target price on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday. Finally, Piper Sandler lifted their price objective on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $309.70.

Amgen Stock Performance

Shares of Amgen stock opened at $273.97 on Tuesday. The company has a market capitalization of $147.49 billion, a PE ratio of 22.40, a P/E/G ratio of 2.37 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 company has a 50-day simple moving average of $288.42 and a two-hundred day simple moving average of $288.61. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period 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. Research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued 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 3.5%. Amgen’s 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.