Focus Partners Wealth Has $69.01 Million Position in Amgen Inc. $AMGN

Focus Partners Wealth boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 17.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 221,488 shares of the medical research company’s stock after purchasing an additional 33,626 shares during the period. Focus Partners Wealth’s holdings in Amgen were worth $69,006,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Continuum Advisory LLC raised its holdings in shares of Amgen by 0.7% during the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock worth $1,343,000 after acquiring an additional 35 shares in the last quarter. Octavia Wealth Advisors LLC increased its position in Amgen by 1.5% in the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock worth $759,000 after purchasing an additional 35 shares during the last quarter. Affinity Capital Advisors LLC raised its stake in shares of Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock worth $246,000 after purchasing an additional 37 shares in the last quarter. Accredited Investors Inc. lifted its holdings in shares of Amgen by 1.7% during the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock valued at $674,000 after buying an additional 37 shares during the last quarter. Finally, Rockline Wealth Management LLC grew its stake in shares of Amgen by 3.2% in the 1st quarter. Rockline Wealth Management LLC now owns 1,240 shares of the medical research company’s stock valued at $386,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on AMGN shares. Piper Sandler boosted their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Bank of America upped their price objective on shares of Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a report on Wednesday, July 23rd. Morgan Stanley increased their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Citigroup boosted their price target on Amgen from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $304.43.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.76% of the company’s stock.

Amgen Stock Down 0.5%

Shares of AMGN stock opened at $278.51 on Thursday. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a fifty day moving average price of $293.29 and a 200 day moving average price of $292.22. The stock has a market cap of $149.94 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 2.43 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Amgen Profile

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.