Amgen Inc. $AMGN Shares Acquired by Pines Wealth Management LLC

by · The Cerbat Gem

Pines Wealth Management LLC increased its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 2.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,111 shares of the medical research company’s stock after purchasing an additional 145 shares during the period. Pines Wealth Management LLC’s holdings in Amgen were worth $1,524,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMGN. Wealth Preservation Advisors LLC purchased a new stake in Amgen in the 1st quarter valued at $25,000. Pinney & Scofield Inc. purchased a new stake in Amgen during the 4th quarter valued at approximately $26,000. First Pacific Financial lifted 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 period. CBIZ Investment Advisory Services LLC grew its stake in shares of 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 purchasing an additional 85 shares during the last quarter. Finally, Activest Wealth Management grew its stake in shares of Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on AMGN shares. Citigroup upped their price objective on shares of Amgen from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Morgan Stanley boosted their price target on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Bank of America increased their target price on Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 23rd. Finally, UBS Group dropped their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus price target of $304.43.

Get Our Latest Stock Report on Amgen

Amgen Price Performance

NASDAQ:AMGN opened at $273.08 on Wednesday. The firm has a market cap of $147.02 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 2.38 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company’s 50-day moving average is $291.69 and its two-hundred day moving average is $291.20. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $339.17.

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. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio is currently 77.84%.

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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