Tandem Investment Partners LLC Boosts Position in Amgen Inc. $AMGN

Tandem Investment Partners LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 17.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,047 shares of the medical research company’s stock after buying an additional 300 shares during the quarter. Tandem Investment Partners LLC’s holdings in Amgen were worth $572,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. O Keefe Stevens Advisory Inc. grew its holdings in Amgen by 2.0% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 49,980 shares of the medical research company’s stock valued at $13,955,000 after buying an additional 981 shares in the last quarter. Talbot Financial LLC grew its holdings in Amgen by 25.3% during the 2nd quarter. Talbot Financial LLC now owns 52,822 shares of the medical research company’s stock valued at $14,748,000 after buying an additional 10,666 shares in the last quarter. Willner & Heller LLC grew its holdings in Amgen by 2.1% during the 2nd quarter. Willner & Heller LLC now owns 3,050 shares of the medical research company’s stock valued at $852,000 after buying an additional 64 shares in the last quarter. Oak Hill Wealth Advisors LLC grew its holdings in Amgen by 1.7% during the 2nd quarter. Oak Hill Wealth Advisors LLC now owns 2,450 shares of the medical research company’s stock valued at $728,000 after buying an additional 40 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. boosted its position in shares of Amgen by 4.1% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 16,705 shares of the medical research company’s stock valued at $4,664,000 after acquiring an additional 663 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMGN. Morgan Stanley lifted their price target on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Piper Sandler lifted their price target on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. Bank of America lifted their price target on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Amgen in a research report on Saturday, September 27th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $309.70.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This 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 available at this link. 0.76% of the stock is currently owned by insiders.

Amgen Price Performance

Shares of Amgen stock opened at $297.89 on Friday. 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 company has a market cap of $160.37 billion, a PE ratio of 24.36, a P/E/G ratio of 2.59 and a beta of 0.49. The business has a 50 day moving average of $287.34 and a 200 day moving average of $288.17. Amgen Inc. has a 52 week low of $253.30 and a 52 week 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, beating 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 revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company 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. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio is presently 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.