Divergent Planning LLC Takes $3.47 Million Position in Amgen Inc. $AMGN

Divergent Planning LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,430 shares of the medical research company’s stock, valued at approximately $3,471,000.

Other institutional investors have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new position in shares of Amgen during the 1st quarter worth approximately $25,000. First Pacific Financial lifted its holdings in Amgen by 304.5% during the 1st 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 last quarter. CBIZ Investment Advisory Services LLC boosted 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 purchasing an additional 85 shares during the period. Activest Wealth Management increased its holdings 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 valued at $33,000 after purchasing an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. raised its position 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 valued at $38,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 1.5%

Shares of NASDAQ:AMGN opened at $303.33 on Tuesday. The business’s 50 day simple moving average is $287.51 and its 200 day simple moving average is $287.05. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market capitalization of $163.30 billion, a P/E ratio of 24.80, a P/E/G ratio of 2.64 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the company posted $4.97 EPS. The company’s 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. On average, research 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. Shareholders of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

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 shares were 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 represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. UBS Group reduced their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Piper Sandler increased their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $300.94.

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.