Fusion Capital LLC Purchases 1,017 Shares of Amgen Inc. $AMGN

Fusion Capital LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 4.3% in the second quarter, HoldingsChannel reports. The firm owned 24,807 shares of the medical research company’s stock after acquiring an additional 1,017 shares during the period. Amgen makes up 2.4% of Fusion Capital LLC’s portfolio, making the stock its 16th biggest position. Fusion Capital LLC’s holdings in Amgen were worth $6,926,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC increased its stake in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Abel Hall LLC acquired a new position in Amgen during the first quarter valued at approximately $232,000. Retirement Planning Co of New England Inc. increased its stake in Amgen by 28.8% in the first quarter. Retirement Planning Co of New England Inc. now owns 1,280 shares of the medical research company’s stock valued at $399,000 after purchasing an additional 286 shares in the last quarter. Creekmur Asset Management LLC raised its holdings in Amgen by 72.0% in the first quarter. Creekmur Asset Management LLC now owns 1,820 shares of the medical research company’s stock worth $567,000 after purchasing an additional 762 shares during the period. Finally, Ring Mountain Capital LLC acquired a new stake in Amgen in the first quarter worth $203,000. 76.50% of the stock is owned by institutional investors.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the sale, the senior vice president directly owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 9,036 shares of company stock valued at $2,992,594. 0.76% of the stock is owned by company insiders.

Amgen Trading Up 0.2%

NASDAQ:AMGN opened at $336.74 on Friday. The company has a market cap of $181.33 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $345.84. The business has a 50 day moving average price of $294.91 and a two-hundred day moving average price of $290.38. 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 (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.63. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, November 21st. This represents a $9.52 annualized dividend and a dividend yield of 2.8%. Amgen’s payout ratio is currently 73.57%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Amgen from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price target on Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a research report on Tuesday. Scotiabank began coverage on Amgen in a research report on Thursday. They issued a “sector outperform” rating and a $385.00 price objective for the company. Finally, Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $314.05.

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.