Balboa Wealth Partners Raises Stock Holdings in Amgen Inc. $AMGN

Balboa Wealth Partners boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 986 shares of the medical research company’s stock after acquiring an additional 43 shares during the period. Balboa Wealth Partners’ holdings in Amgen were worth $275,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of AMGN. Vanguard Group Inc. increased its position in shares of Amgen by 0.3% during 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 purchasing an additional 148,658 shares during the last quarter. Royal Bank of Canada increased its position in shares of Amgen by 6.0% during 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 purchasing an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Amgen by 5.8% during 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 purchasing an additional 243,306 shares during the last quarter. Deutsche Bank AG increased its position in shares of Amgen by 1.6% during 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 purchasing an additional 52,734 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Amgen by 0.8% during 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 purchasing an additional 22,820 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 1.5%

Shares of AMGN opened at $303.33 on Tuesday. 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 1 year low of $253.30 and a 1 year high of $335.88. The company has a 50 day simple moving average of $287.51 and a two-hundred day simple moving average of $287.05. The firm has a market cap of $163.30 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 2.64 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 business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the firm 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. On average, equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio is currently 77.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Raymond James Financial assumed coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. Morgan Stanley upped their price target on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Sunday. Cantor Fitzgerald reissued a “neutral” rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Finally, UBS Group reduced 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. Six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $300.94.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on 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 directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.69% of the company’s stock.

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.