Focus Partners Wealth Purchases 33,626 Shares of Amgen Inc. $AMGN

Focus Partners Wealth grew its position in Amgen Inc. (NASDAQ:AMGN) by 17.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 221,488 shares of the medical research company’s stock after acquiring an additional 33,626 shares during the period. Focus Partners Wealth’s holdings in Amgen were worth $69,006,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wealth Preservation Advisors LLC bought a new position in Amgen in the 1st quarter valued at $25,000. Pinney & Scofield Inc. acquired a new stake in shares of Amgen in the fourth quarter valued at $26,000. First Pacific Financial raised its holdings in shares of Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after buying an additional 67 shares during the last quarter. Activest Wealth Management lifted its position in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after buying an additional 103 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in Amgen during the 4th quarter worth about $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Raymond James Financial assumed coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. UBS Group lowered their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Piper Sandler boosted their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Finally, Bank of America lifted their price objective on Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus target price of $304.43.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company’s stock.

Amgen Stock Down 0.5%

Shares of Amgen stock opened at $278.51 on Thursday. The company has a market capitalization of $149.94 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 2.43 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. The business has a 50-day moving average of $293.29 and a two-hundred day moving average of $292.22. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 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 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen’s payout ratio is currently 77.84%.

Amgen Company 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.