Paulson Wealth Management Inc. Boosts Holdings in Amgen Inc. $AMGN

Paulson Wealth Management Inc. boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 86.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,981 shares of the medical research company’s stock after purchasing an additional 1,386 shares during the quarter. Paulson Wealth Management Inc.’s holdings in Amgen were worth $832,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of AMGN. Nuveen LLC purchased a new position in Amgen in the first quarter valued at $688,868,000. Federated Hermes Inc. boosted its position in Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock worth $634,680,000 after purchasing an additional 665,555 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Amgen by 128.9% in the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock valued at $332,017,000 after purchasing an additional 600,096 shares during the period. WoodTrust Financial Corp raised its stake in shares of Amgen by 8,223.6% during the 2nd quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock worth $166,307,000 after buying an additional 588,478 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Amgen during the 2nd quarter valued at approximately $156,812,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of several research analyst reports. 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. UBS Group reduced their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Piper Sandler reaffirmed an “overweight” rating on shares of Amgen in a research note on Wednesday. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Finally, Bank of America lifted their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average price target of $307.89.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.76% of the company’s stock.

Amgen Stock Down 1.3%

NASDAQ:AMGN opened at $315.59 on Friday. The stock has a market capitalization of $169.90 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The stock’s fifty day moving average is $289.29 and its two-hundred day moving average is $288.18. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88.

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

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, November 21st. Amgen’s dividend payout ratio (DPR) is presently 73.57%.

About Amgen

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.