Convergence Financial LLC Has $436,000 Position in Amgen Inc. $AMGN

Convergence Financial LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 21.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,561 shares of the medical research company’s stock after buying an additional 277 shares during the quarter. Convergence Financial LLC’s holdings in Amgen were worth $436,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen in the 1st quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC boosted its stake in Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after buying an additional 85 shares in the last quarter. Activest Wealth Management grew its position in Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 103 shares during the period. Quaker Wealth Management LLC boosted its stake in shares of Amgen by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 240 shares in the last quarter. Finally, Nova Wealth Management Inc. grew its stake 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 buying an additional 122 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of Amgen stock opened at $296.70 on Wednesday. The firm has a fifty day moving average of $288.05 and a two-hundred day moving average of $287.76. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a market capitalization of $159.73 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.61 and a beta of 0.49. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, November 21st. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen’s payout ratio is currently 77.84%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Citigroup increased their target price on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Bank of America raised their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Raymond James Financial began coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. Piper Sandler boosted their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average price target of $300.94.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated 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 approximately $2,141,000.91. The trade was 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 accessible through the SEC website. Corporate insiders own 0.76% of the company’s stock.

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.