PFG Investments LLC Boosts Stock Holdings in Amgen Inc. $AMGN

PFG Investments LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,770 shares of the medical research company’s stock after purchasing an additional 125 shares during the period. PFG Investments LLC’s holdings in Amgen were worth $2,170,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AMGN. Octavia Wealth Advisors LLC grew its position in shares of Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock valued at $759,000 after buying an additional 35 shares during the last quarter. Crumly & Associates Inc. grew its position in shares of Amgen by 3.2% during the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after buying an additional 36 shares during the last quarter. Maryland Capital Advisors Inc. grew its position in shares of Amgen by 5.2% during the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock valued at $204,000 after buying an additional 36 shares during the last quarter. Affinity Capital Advisors LLC grew its position 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 valued at $246,000 after buying an additional 37 shares during the last quarter. Finally, Accredited Investors Inc. grew its position 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. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This 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 at the SEC website. 0.76% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMGN. Wall Street Zen downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Raymond James Financial initiated coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Bank of America boosted their target price on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. UBS Group reduced their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $309.70.

Amgen Trading Up 5.8%

Shares of NASDAQ:AMGN opened at $298.50 on Thursday. The company has a 50 day moving average of $287.74 and a 200-day moving average of $288.64. The firm has a market cap of $160.70 billion, a P/E ratio of 24.41, a P/E/G ratio of 2.45 and a beta of 0.49. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share 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 company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the prior year, the business posted $4.97 EPS. The business’s revenue for the quarter 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, analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen’s dividend payout ratio 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.