Forza Wealth Management LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 4.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,370 shares of the medical research company’s stock after purchasing an additional 253 shares during the quarter. Forza Wealth Management LLC’s holdings in Amgen were worth $1,779,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen during the first quarter valued at about $25,000. First Pacific Financial boosted its position in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after buying an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its position in Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after buying an additional 85 shares during the last quarter. Activest Wealth Management boosted its position in Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after buying an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. boosted its position in Amgen by 12,200.0% in the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.
Insider Buying and Selling at Amgen
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 transaction of $376,286.33. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.69% of the stock is currently owned by insiders.
Amgen Trading Up 3.0%
Amgen (NASDAQ:AMGN – Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.
Amgen Dividend Announcement
The firm also recently announced 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 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio is presently 77.84%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Raymond James Financial assumed coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Piper Sandler upped their target price on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. Morgan Stanley upped their target price on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Bank of America upped their target price on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Finally, Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $309.70.
Get Our Latest Analysis on AMGN
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.
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