AlTi Global Inc. Raises Stock Position in Amgen Inc. $AMGN

AlTi Global Inc. lifted its position in Amgen Inc. (NASDAQ:AMGN) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,704 shares of the medical research company’s stock after buying an additional 191 shares during the period. AlTi Global Inc.’s holdings in Amgen were worth $5,790,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. 180 Wealth Advisors LLC increased its stake in Amgen by 2.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 9,534 shares of the medical research company’s stock valued at $2,662,000 after purchasing an additional 230 shares in the last quarter. Avion Wealth increased its stake in Amgen by 184.0% during the 2nd quarter. Avion Wealth now owns 602 shares of the medical research company’s stock valued at $168,000 after purchasing an additional 390 shares in the last quarter. Silver Oak Advisory Group Inc. increased its stake in Amgen by 20.4% during the 2nd quarter. Silver Oak Advisory Group Inc. now owns 1,373 shares of the medical research company’s stock valued at $383,000 after purchasing an additional 233 shares in the last quarter. Briaud Financial Planning Inc increased its stake in Amgen by 34.5% during the 2nd quarter. Briaud Financial Planning Inc now owns 815 shares of the medical research company’s stock valued at $227,000 after purchasing an additional 209 shares in the last quarter. Finally, FSM Wealth Advisors LLC acquired a new position in Amgen during the 2nd quarter valued at approximately $440,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. Bank of America upped their price target on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Raymond James Financial initiated coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. UBS Group cut their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley upped their price target on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Finally, Citigroup upped their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Amgen presently has an average rating of “Hold” and a consensus price target of $300.94.

Amgen Stock Performance

NASDAQ:AMGN opened at $292.89 on Friday. 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 company has a fifty day moving average of $288.02 and a two-hundred day moving average of $287.23. The stock has a market capitalization of $157.68 billion, a PE ratio of 23.95, a P/E/G ratio of 2.62 and a beta of 0.49. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88.

Amgen (NASDAQ:AMGN) last issued 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. 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 analysts’ expectations of $8.86 billion. During the same period in the prior year, the business earned $4.97 earnings per share. The company’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. As a group, research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.76% of the company’s stock.

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.