Avity Investment Management Inc. Grows Stock Holdings in Amgen Inc. $AMGN

Avity Investment Management Inc. boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 3.5% in the second quarter, Holdings Channel.com reports. The fund owned 106,139 shares of the medical research company’s stock after buying an additional 3,630 shares during the quarter. Amgen comprises about 2.2% of Avity Investment Management Inc.’s portfolio, making the stock its 23rd largest holding. Avity Investment Management Inc.’s holdings in Amgen were worth $29,635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KPP Advisory Services LLC lifted its position in Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after acquiring an additional 2,716 shares during the last quarter. Advisor Resource Council purchased a new stake in Amgen in the first quarter valued at $1,331,000. Trinity Legacy Partners LLC lifted its position in Amgen by 3.9% in the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after acquiring an additional 612 shares during the last quarter. DLK Investment Management LLC lifted its position in Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Founders Financial Alliance LLC lifted its position in Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after acquiring an additional 42 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.69% of the stock is currently owned by company insiders.

Amgen Trading Down 2.2%

Shares of Amgen stock opened at $276.39 on Monday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The company’s 50-day simple moving average is $292.54 and its 200-day simple moving average is $291.56. The firm has a market cap of $148.80 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 2.40 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the business posted $4.97 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities research analysts anticipate 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 was paid on Friday, September 12th. Stockholders 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 3.4%. The ex-dividend date was Friday, August 22nd. Amgen’s payout ratio is 77.84%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of research reports. Raymond James Financial initiated coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Citigroup lifted their price objective on shares of Amgen from $305.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. UBS Group dropped their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley lifted their price objective on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $304.43.

About Amgen

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.