ProVise Management Group LLC Has $4.57 Million Holdings in Amgen Inc. $AMGN

by · The Cerbat Gem

ProVise Management Group LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,361 shares of the medical research company’s stock after buying an additional 253 shares during the period. ProVise Management Group LLC’s holdings in Amgen were worth $4,568,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new stake in Amgen during the 1st quarter valued at $25,000. CBIZ Investment Advisory Services LLC increased its stake 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 in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the second quarter valued at $27,000. Activest Wealth Management raised its holdings in shares of Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after buying an additional 103 shares during the last quarter. Finally, Quaker Wealth Management LLC lifted its position in Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after buying an additional 240 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.2%

NASDAQ:AMGN opened at $336.74 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $345.84. The stock’s fifty day simple moving average is $294.91 and its 200-day simple moving average is $290.38. The firm has a market capitalization of $181.33 billion, a P/E ratio of 27.53, a P/E/G ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN – Get Free Report) last released 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 firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 annualized dividend and a dividend yield of 2.8%. Amgen’s payout ratio is 73.57%.

Insider Activity at Amgen

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the sale, the executive vice president directly owned 41,923 shares in the company, valued at $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the sale, the senior vice president directly owned 7,082 shares in the company, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,036 shares of company stock worth $2,992,594 in the last quarter. Corporate insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AMGN shares. Bank of America raised their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. DZ Bank raised their price target on shares of Amgen from $335.00 to $364.00 in a report on Monday, November 10th. Cantor Fitzgerald upped their price objective on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Scotiabank assumed coverage on Amgen in a research note on Thursday. They issued a “sector outperform” rating and a $385.00 target price for the company. Finally, Morgan Stanley dropped their target price on Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $314.05.

Get Our Latest Research Report on AMGN

About Amgen

(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.

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