Castle Wealth Management LLC Has $1.12 Million Stock Holdings in Amgen Inc. $AMGN

Castle Wealth Management LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 4.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,012 shares of the medical research company’s stock after buying an additional 184 shares during the period. Castle Wealth Management LLC’s holdings in Amgen were worth $1,120,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Amgen by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after buying an additional 148,658 shares in the last quarter. Royal Bank of Canada increased its position in Amgen by 6.0% in the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock valued at $1,521,339,000 after buying an additional 274,488 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Amgen by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock valued at $1,387,695,000 after buying an additional 243,306 shares in the last quarter. Deutsche Bank AG increased its position in Amgen by 1.6% in the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock valued at $1,017,525,000 after buying an additional 52,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Amgen by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock valued at $940,989,000 after buying an additional 22,820 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Amgen stock opened at $295.98 on Thursday. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The business has a fifty day moving average price of $287.97 and a 200-day moving average price of $287.21. 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 market capitalization of $159.34 billion, a P/E ratio of 24.20, a PEG ratio of 2.66 and a beta of 0.49.

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

Amgen Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on AMGN shares. Raymond James Financial initiated coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. UBS Group reduced their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Bank of America increased 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. Citigroup increased 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. Finally, Piper Sandler increased their price objective on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $300.94.

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.