Greenup Street Wealth Management LLC Buys Shares of 2,802 Amgen Inc. $AMGN

Greenup Street Wealth Management LLC purchased a new position in Amgen Inc. (NASDAQ:AMGN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,802 shares of the medical research company’s stock, valued at approximately $791,000.

Several other large investors have also recently made changes to their positions in AMGN. 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 in the last quarter. Atlantic Union Bankshares Corp boosted its stake in Amgen by 165.0% during the second quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock worth $2,972,000 after buying an additional 6,627 shares during the last quarter. L2 Asset Management LLC boosted its stake in Amgen by 50.8% during the second quarter. L2 Asset Management LLC now owns 9,837 shares of the medical research company’s stock worth $2,747,000 after buying an additional 3,314 shares during the last quarter. Stephens Inc. AR grew its holdings in Amgen by 14.2% in the 2nd quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after buying an additional 11,888 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Amgen by 2.9% in the 2nd quarter. CWM LLC now owns 154,418 shares of the medical research company’s stock worth $43,115,000 after acquiring an additional 4,306 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMGN has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Amgen in a research report on Monday. Daiwa Capital Markets boosted their target price on shares of Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Guggenheim raised their price target on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Cantor Fitzgerald lifted their price target on shares of Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Finally, Morgan Stanley lowered their price objective on Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $332.85.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 890 shares of Amgen 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 completion of the transaction, the senior vice president directly owned 7,082 shares of the company’s stock, valued at $2,381,251.68. The trade was a 11.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the sale, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 10,908 shares of company stock worth $3,674,966 in the last three months. 0.76% of the stock is owned by company insiders.

Amgen Stock Performance

NASDAQ:AMGN opened at $332.93 on Friday. Amgen Inc. has a fifty-two week low of $257.05 and a fifty-two week high of $346.38. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The company has a 50 day moving average price of $322.98 and a 200 day moving average price of $301.63. The stock has a market capitalization of $179.28 billion, a P/E ratio of 25.73, a PEG ratio of 3.10 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. During the same quarter in the previous year, the company earned $5.58 earnings per share. The firm’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. Equities research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be paid a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio is currently 73.57%.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.