Amgen Inc. $AMGN Shares Acquired by Novare Capital Management LLC

Novare Capital Management LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 44.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 979 shares of the medical research company’s stock after buying an additional 300 shares during the period. Novare Capital Management LLC’s holdings in Amgen were worth $273,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AMGN. Wealth Preservation Advisors LLC purchased a new position in Amgen during the first quarter worth about $25,000. First Pacific Financial raised its holdings in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after purchasing an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in 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 in the last quarter. Activest Wealth Management raised its holdings in Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. raised its holdings in Amgen by 12,200.0% during the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock worth $38,000 after purchasing an additional 122 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Sunday. UBS Group dropped their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Piper Sandler increased their target price on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $305.50.

Insider Transactions at Amgen

In related 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 sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.76% of the company’s stock.

Amgen Trading Up 1.0%

Shares of AMGN opened at $298.81 on Friday. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $287.14 and a 200-day simple moving average of $287.15. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The stock has a market cap of $160.87 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 2.64 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period last year, the company posted $4.97 EPS. The company’s revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. Amgen’s dividend payout ratio (DPR) 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.