Amgen Inc. $AMGN Position Boosted by M3 Advisory Group LLC

M3 Advisory Group LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 8.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 831 shares of the medical research company’s stock after buying an additional 67 shares during the quarter. M3 Advisory Group LLC’s holdings in Amgen were worth $232,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fairvoy Private Wealth LLC increased its stake in Amgen by 1.1% during the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after acquiring an additional 35 shares during the period. Crumly & Associates Inc. increased its stake in Amgen by 3.2% during the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after acquiring an additional 36 shares during the period. Maryland Capital Advisors Inc. increased its stake in Amgen by 5.2% during the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock valued at $204,000 after acquiring an additional 36 shares during the period. Affinity Capital Advisors LLC increased its stake in Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock valued at $246,000 after acquiring an additional 37 shares during the period. Finally, Accredited Investors Inc. increased its stake in Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock valued at $674,000 after acquiring an additional 37 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Stock Down 1.8%

Shares of AMGN opened at $290.13 on Monday. The company has a market capitalization of $156.19 billion, a P/E ratio of 23.72, a PEG ratio of 2.52 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The business’s 50 day simple moving average is $286.77 and its 200-day simple moving average is $287.43.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion for 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%.Amgen’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

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

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business’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 transaction, the senior vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AMGN shares. Morgan Stanley boosted their price target on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Bank of America lifted their price objective on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, Citigroup lifted their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $309.42.

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.