Jackson Thornton Wealth Management LLC Purchases New Shares in Amgen Inc. $AMGN

Jackson Thornton Wealth Management LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 687 shares of the medical research company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fairvoy Private Wealth LLC raised its stake in shares of Amgen by 1.1% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after acquiring an additional 35 shares in the last quarter. Nicholson Wealth Management Group LLC raised its stake in shares of Amgen by 0.6% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock valued at $1,652,000 after acquiring an additional 35 shares in the last quarter. Crumly & Associates Inc. raised its stake in shares of Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after acquiring an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. raised its stake in shares of Amgen by 5.2% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock valued at $204,000 after acquiring an additional 36 shares in the last quarter. Finally, Lion Street Advisors LLC raised its stake in shares of Amgen by 1.3% in the 2nd quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock valued at $774,000 after acquiring an additional 36 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN opened at $301.14 on Wednesday. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The company has a 50-day simple moving average of $287.83 and a two-hundred day simple moving average of $287.15. The firm has a market capitalization of $162.12 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.68 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the business posted $4.97 earnings per share. Amgen’s quarterly 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, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm 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. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business’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 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 $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AMGN. UBS Group decreased their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Raymond James Financial assumed coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Citigroup lifted their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Piper Sandler lifted their price objective on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. Six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus price target of $300.94.

Amgen 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.