Soltis Investment Advisors LLC Buys 697 Shares of Amgen Inc. $AMGN

Soltis Investment Advisors LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 3.9% during the second quarter, Holdings Channel.com reports. The fund owned 18,557 shares of the medical research company’s stock after purchasing an additional 697 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Amgen were worth $5,181,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. OLD National Bancorp IN grew its position in shares of Amgen by 296.2% in the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after purchasing an additional 13,460 shares during the period. Trinity Legacy Partners LLC grew its position in shares of 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 purchasing an additional 612 shares during the period. Founders Financial Alliance LLC grew its position in shares of 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 purchasing an additional 42 shares during the period. Stephens Inc. AR grew its position in shares of Amgen by 14.2% in the second quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after purchasing an additional 11,888 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Amgen by 2.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,397 shares of the medical research company’s stock valued at $86,423,000 after purchasing an additional 7,308 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

NASDAQ:AMGN opened at $319.86 on Thursday. The company’s 50-day moving average price is $288.69 and its 200-day moving average price is $287.99. 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 has a market cap of $172.20 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.61 and a beta of 0.45. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same period in the previous year, the firm earned $5.58 earnings per share. Amgen’s quarterly revenue was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a yield of 3.0%. Amgen’s payout ratio is 73.57%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AMGN shares. Morgan Stanley dropped their target price on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Bank of America lifted their target price 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. UBS Group dropped their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Raymond James Financial started coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Finally, Wells Fargo & Company raised their price target on shares of Amgen from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $307.33.

Amgen Company 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.