Amgen Inc. $AMGN Shares Purchased by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 7.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,295 shares of the medical research company’s stock after acquiring an additional 352 shares during the period. Keudell Morrison Wealth Management’s holdings in Amgen were worth $1,478,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AMGN. Beacon Financial Advisory LLC boosted its stake in shares of Amgen by 13.6% during the 2nd quarter. Beacon Financial Advisory LLC now owns 978 shares of the medical research company’s stock valued at $273,000 after buying an additional 117 shares during the last quarter. IVC Wealth Advisors LLC increased its position in shares of Amgen by 27.3% in the 2nd quarter. IVC Wealth Advisors LLC now owns 1,445 shares of the medical research company’s stock worth $404,000 after purchasing an additional 310 shares during the last quarter. Iron Horse Wealth Management LLC lifted its position in shares of Amgen by 74.8% during the second quarter. Iron Horse Wealth Management LLC now owns 243 shares of the medical research company’s stock worth $68,000 after purchasing an additional 104 shares during the last quarter. Simplicity Wealth LLC grew its stake in Amgen by 310.4% in the second quarter. Simplicity Wealth LLC now owns 5,138 shares of the medical research company’s stock worth $1,434,000 after purchasing an additional 3,886 shares in the last quarter. Finally, Brown Miller Wealth Management LLC raised its stake in Amgen by 4.2% during the second quarter. Brown Miller Wealth Management LLC now owns 7,844 shares of the medical research company’s stock valued at $2,190,000 after buying an additional 317 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 0.2%

Shares of AMGN opened at $297.89 on Friday. The company has a 50-day simple moving average of $287.34 and a 200-day simple moving average of $288.17. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The firm has a market capitalization of $160.37 billion, a P/E ratio of 24.36, a P/E/G ratio of 2.59 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter in the prior year, the company posted $4.97 EPS. The business’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. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity

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. Company insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Amgen in a research note on Saturday, September 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. UBS Group dropped their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Finally, Piper Sandler boosted their price objective on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Seven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $309.70.

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.