Avidian Wealth Enterprises LLC Purchases 887 Shares of Amgen Inc. $AMGN

Avidian Wealth Enterprises LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 18.0% in the second quarter, HoldingsChannel.com reports. The firm owned 5,820 shares of the medical research company’s stock after acquiring an additional 887 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Amgen were worth $1,625,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Wealth Preservation Advisors LLC purchased a new stake in Amgen during the 1st quarter valued at approximately $25,000. First Pacific Financial lifted its holdings 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 buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its position 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 worth $29,000 after acquiring an additional 85 shares during the last quarter. Activest Wealth Management grew its stake in 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 acquiring an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. increased its holdings in Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 122 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of Amgen stock opened at $301.14 on Wednesday. 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 stock has a 50 day moving average price of $287.83 and a 200-day moving average price of $287.15. The stock has a market cap of $162.12 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.68 and a beta of 0.49. 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 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 business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the previous year, the business earned $4.97 earnings per share. The company’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. Equities analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AMGN has been the subject of several research reports. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a research note on Sunday. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Raymond James Financial initiated coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, Morgan Stanley raised their target price on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $300.94.

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.