Thrive Wealth Management LLC Acquires 420 Shares of Amgen Inc. $AMGN

by · The Cerbat Gem

Thrive Wealth Management LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 14.7% in the second quarter, Holdings Channel.com reports. The firm owned 3,272 shares of the medical research company’s stock after purchasing an additional 420 shares during the quarter. Thrive Wealth Management LLC’s holdings in Amgen were worth $914,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AMGN. Wealth Preservation Advisors LLC acquired a new position in Amgen during the 1st quarter worth approximately $25,000. First Pacific Financial boosted its position in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after acquiring an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its position in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after acquiring an additional 85 shares during the last quarter. Pinney & Scofield Inc. acquired a new position in Amgen during the 4th quarter worth approximately $26,000. Finally, Activest Wealth Management boosted its position in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after acquiring an additional 103 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley upped their price target on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Bank of America upped their price objective on Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 23rd. UBS Group dropped their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Finally, Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $304.43.

Get Our Latest Stock Analysis on AMGN

Amgen Stock Down 0.5%

Shares of NASDAQ AMGN opened at $273.08 on Wednesday. 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 $339.17. The stock has a market capitalization of $147.02 billion, a P/E ratio of 22.33, a PEG ratio of 2.38 and a beta of 0.49. The stock’s fifty day moving average is $291.69 and its 200 day moving average is $291.20.

Amgen (NASDAQ:AMGN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter last year, the business earned $4.97 earnings per share. Amgen’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. Sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.5%. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’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 sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.69% of the company’s stock.

Amgen Profile

(Free Report)

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.

Further Reading

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