Regent Peak Wealth Advisors LLC Makes New $539,000 Investment in Amgen Inc. $AMGN

by · The Markets Daily

Regent Peak Wealth Advisors LLC purchased a new position in Amgen Inc. (NASDAQ:AMGNFree Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,909 shares of the medical research company’s stock, valued at approximately $539,000.

Several other institutional investors and hedge funds have also made changes to their positions in AMGN. Wealth Preservation Advisors LLC acquired a new position in Amgen in the 1st quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen during the second quarter worth about $27,000. CBIZ Investment Advisory Services LLC raised its position in shares of Amgen by 1,214.3% in the first 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 during the last quarter. Evelyn Partners Investment Management LLP acquired a new position in shares of Amgen in the second quarter valued at approximately $32,000. Finally, Howard Hughes Medical Institute purchased a new position in shares of Amgen during the second quarter valued at approximately $32,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the sale, the senior vice president directly owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This trade represents a 30.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the sale, the senior vice president directly owned 7,082 shares in the company, valued at $2,381,251.68. This trade represents a 11.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 10,908 shares of company stock worth $3,674,966 over the last 90 days. Company insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Amgen from $300.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 10th. Truist Financial began coverage on Amgen in a research report on Monday, November 24th. They issued a “hold” rating and a $318.00 price objective for the company. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 15th. HSBC reissued a “buy” rating and issued a $425.00 price target on shares of Amgen in a research note on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amgen in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $332.85.

Read Our Latest Report on Amgen

Amgen Stock Up 0.3%

AMGN opened at $332.50 on Friday. The firm has a 50 day moving average price of $322.29 and a 200 day moving average price of $301.33. Amgen Inc. has a 1 year low of $257.05 and a 1 year high of $346.38. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The company has a market cap of $179.04 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 3.10 and a beta of 0.45.

Amgen (NASDAQ:AMGNGet Free Report) last posted its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.63. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be issued a $2.52 dividend. The ex-dividend date is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a yield of 3.0%. This is a boost from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio (DPR) is currently 73.57%.

Amgen Profile

(Free Report)

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.

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