Amgen Inc. $AMGN Shares Acquired by Joseph Group Capital Management

Joseph Group Capital Management increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 12.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,369 shares of the medical research company’s stock after buying an additional 1,323 shares during the quarter. Joseph Group Capital Management’s holdings in Amgen were worth $3,453,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Wealth Preservation Advisors LLC purchased a new position in Amgen during the 1st quarter worth $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen during the second quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC lifted its holdings 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 purchasing an additional 85 shares during the period. Activest Wealth Management grew its position 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. Finally, Quaker Wealth Management LLC raised its position in Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after buying an additional 240 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Guggenheim lifted their price target on Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a research note on Thursday. UBS Group cut their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Bank of America boosted 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. Finally, The Goldman Sachs Group lowered their target price on shares of Amgen from $405.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Amgen has an average rating of “Hold” and an average target price of $308.83.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’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 transaction of $376,286.33. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.76% of the company’s stock.

Amgen Stock Up 1.5%

Shares of NASDAQ AMGN opened at $320.20 on Monday. The firm has a market cap of $172.42 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The firm’s 50 day moving average price is $289.94 and its 200 day moving average price is $288.65.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.01 by $0.63. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. During the same quarter last year, the firm earned $5.58 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s dividend payout ratio is presently 73.57%.

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.