Hamel Associates Inc. Increases Holdings in Amgen Inc. $AMGN

Hamel Associates Inc. grew its stake in Amgen Inc. (NASDAQ:AMGN) by 10.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 19,632 shares of the medical research company’s stock after purchasing an additional 1,861 shares during the quarter. Amgen comprises 1.9% of Hamel Associates Inc.’s holdings, making the stock its 24th biggest position. Hamel Associates Inc.’s holdings in Amgen were worth $5,481,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Laurel Wealth Advisors LLC boosted its stake in Amgen by 27,765.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock worth $1,870,880,000 after purchasing an additional 6,676,575 shares in the last quarter. Norges Bank bought a new position in shares of Amgen in the second quarter worth approximately $1,663,726,000. Nuveen LLC bought a new position in shares of Amgen in the first quarter worth approximately $688,868,000. Vanguard Group Inc. grew its holdings in shares of Amgen by 1.6% during the second quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after buying an additional 841,117 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Amgen by 5.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock valued at $3,600,043,000 after acquiring an additional 687,735 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 890 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the sale, the senior vice president directly owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares in the company, valued at approximately $2,436,703.50. This trade represents a 30.29% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 10,908 shares of company stock worth $3,674,966. Company insiders own 0.76% of the company’s stock.

Amgen Price Performance

Shares of Amgen stock opened at $344.65 on Friday. The stock has a market cap of $185.59 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.61 and a beta of 0.45. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock’s fifty day moving average is $307.51 and its 200 day moving average is $294.91. Amgen Inc. has a one year low of $253.30 and a one year high of $345.84.

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

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s dividend payout ratio is currently 73.57%.

Analyst Ratings Changes

AMGN has been the topic of several recent analyst reports. Truist Financial started coverage on Amgen in a research note on Monday, November 24th. They set a “hold” rating and a $318.00 target price on the stock. DZ Bank increased their price objective on Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. Wells Fargo & Company set a $400.00 price objective on Amgen in a report on Tuesday. Scotiabank assumed coverage on shares of Amgen in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 target price on the stock. Finally, Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus target price of $333.74.

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.