Axxcess Wealth Management LLC Boosts Stock Position in Amgen Inc. $AMGN

Axxcess Wealth Management LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 59.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,638 shares of the medical research company’s stock after buying an additional 6,172 shares during the period. Axxcess Wealth Management LLC’s holdings in Amgen were worth $4,695,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AMGN. Cora Capital Advisors LLC boosted its stake in Amgen by 5.1% in the 3rd quarter. Cora Capital Advisors LLC now owns 1,059 shares of the medical research company’s stock worth $299,000 after purchasing an additional 51 shares in the last quarter. Maridea Wealth Management LLC bought a new stake in Amgen during the 3rd quarter valued at about $219,000. BBR Partners LLC raised its holdings in Amgen by 0.5% in the third quarter. BBR Partners LLC now owns 7,117 shares of the medical research company’s stock worth $2,008,000 after buying an additional 32 shares during the last quarter. Marble Harbor Investment Counsel LLC lifted its stake in shares of Amgen by 1.9% in the third quarter. Marble Harbor Investment Counsel LLC now owns 2,294 shares of the medical research company’s stock worth $647,000 after buying an additional 42 shares in the last quarter. Finally, Beirne Wealth Consulting Services LLC grew its holdings in shares of Amgen by 1.3% during the third quarter. Beirne Wealth Consulting Services LLC now owns 2,808 shares of the medical research company’s stock valued at $792,000 after buying an additional 36 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Trading Up 1.7%

Amgen stock opened at $379.73 on Thursday. The business has a 50-day simple moving average of $340.91 and a two-hundred day simple moving average of $315.28. The company has a market cap of $204.70 billion, a P/E ratio of 26.69, a P/E/G ratio of 3.82 and a beta of 0.46. Amgen Inc. has a 52-week low of $261.43 and a 52-week high of $385.12. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 5.78.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share for the quarter, topping the consensus estimate of $4.76 by $0.53. The firm had revenue of $9.87 billion for the quarter, compared to analysts’ expectations of $9.46 billion. Amgen had a net margin of 20.98% and a return on equity of 148.37%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.31 EPS. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. Analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be paid a $2.52 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. This represents a $10.08 annualized dividend and a dividend yield of 2.7%. Amgen’s dividend payout ratio (DPR) is currently 70.84%.

Analysts Set New Price Targets

Several research firms recently issued reports on AMGN. Truist Financial upped their price objective on Amgen from $318.00 to $319.00 and gave the company a “hold” rating in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amgen in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on Amgen from $285.00 to $295.00 and gave the stock a “hold” rating in a report on Thursday, February 5th. Royal Bank Of Canada upped their target price on shares of Amgen from $335.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Finally, BMO Capital Markets raised their price target on shares of Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $349.75.

Amgen Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.