Amgen Inc. $AMGN Shares Acquired by Milestone Asset Management LLC

Milestone Asset Management LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 5.9% during the 2nd quarter, Holdings Channel reports. The fund owned 3,180 shares of the medical research company’s stock after acquiring an additional 178 shares during the quarter. Milestone Asset Management LLC’s holdings in Amgen were worth $888,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fairvoy Private Wealth LLC increased its stake in Amgen by 1.1% in the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after purchasing an additional 35 shares during the last quarter. Nicholson Wealth Management Group LLC grew its position in shares of Amgen by 0.6% during the second quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock worth $1,652,000 after acquiring an additional 35 shares during the last quarter. Crumly & Associates Inc. grew its position in shares of Amgen by 3.2% during the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock worth $320,000 after acquiring an additional 36 shares during the last quarter. Maryland Capital Advisors Inc. grew its position in shares of Amgen by 5.2% during the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock worth $204,000 after acquiring an additional 36 shares during the last quarter. Finally, Lion Street Advisors LLC grew its position in shares of Amgen by 1.3% during the second quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock worth $774,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMGN shares. Morgan Stanley raised their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Bank of America raised their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Piper Sandler raised their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Citigroup raised their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, Raymond James Financial initiated coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. Six 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $300.94.

Amgen Trading Down 0.7%

NASDAQ:AMGN opened at $296.30 on Tuesday. The company has a market capitalization of $159.52 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. The stock has a fifty day simple moving average of $287.91 and a 200-day simple moving average of $287.63.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results 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. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.97 EPS. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be paid 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 of this dividend is Friday, November 21st. Amgen’s payout ratio is 77.84%.

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.