Kanawha Capital Management LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 18.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,170 shares of the medical research company’s stock after purchasing an additional 186 shares during the quarter. Kanawha Capital Management LLC’s holdings in Amgen were worth $327,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of AMGN. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen during the first quarter worth about $25,000. First Pacific Financial lifted its stake in shares of Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after acquiring an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after acquiring an additional 85 shares in the last quarter. Activest Wealth Management lifted its stake in shares of Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after acquiring an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. lifted its stake in shares of Amgen by 12,200.0% in the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock worth $38,000 after acquiring an additional 122 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on AMGN shares. Morgan Stanley boosted their price target on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Piper Sandler boosted their price target on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. Citigroup boosted their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus price target of $305.50.
Insider Activity at Amgen
In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s 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 completion of the transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.76% of the company’s stock.
Amgen Trading Up 1.0%
Shares of NASDAQ AMGN opened at $298.81 on Friday. The stock’s 50 day moving average price is $287.14 and its two-hundred day moving average price is $287.15. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. The stock has a market capitalization of $160.87 billion, a P/E ratio of 24.43, a PEG ratio of 2.64 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.
Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter in the prior year, the firm posted $4.97 earnings per share. Amgen’s revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.
Amgen Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen’s dividend payout ratio is 77.84%.
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.
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