Bristlecone Advisors LLC Has $4.77 Million Stock Position in Amgen Inc. $AMGN

Bristlecone Advisors LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,094 shares of the medical research company’s stock after selling 664 shares during the quarter. Bristlecone Advisors LLC’s holdings in Amgen were worth $4,773,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen during the 1st quarter worth $25,000. CBIZ Investment Advisory Services LLC grew its stake in Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after buying an additional 85 shares during the last quarter. Activest Wealth Management grew its stake in Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after buying an additional 103 shares during the last quarter. Quaker Wealth Management LLC grew its stake in Amgen by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock valued at $34,000 after buying an additional 240 shares during the last quarter. Finally, Nova Wealth Management Inc. grew its stake 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 buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMGN. Piper Sandler raised their target price on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. UBS Group lowered their target price 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. Wall Street Zen lowered shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday. Citigroup raised their target price on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $300.94.

Insiders Place Their Bets

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

Amgen Stock Performance

NASDAQ:AMGN opened at $292.09 on Wednesday. The firm’s 50-day moving average is $287.82 and its 200-day moving average is $287.41. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. 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 market cap of $157.25 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 2.60 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (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 company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the previous year, the firm posted $4.97 EPS. The business’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. Equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed 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 was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. Amgen’s payout ratio is presently 77.84%.

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.