Independent Solutions Wealth Management LLC Purchases 348 Shares of Amgen Inc. $AMGN

Independent Solutions Wealth Management LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,335 shares of the medical research company’s stock after acquiring an additional 348 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Amgen were worth $2,606,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC acquired a new position in Amgen during the first quarter worth $25,000. First Pacific Financial raised its holdings in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after purchasing an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its holdings 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 purchasing an additional 85 shares during the last quarter. Activest Wealth Management raised its position in shares of 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. increased its stake in Amgen by 12,200.0% during the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock worth $38,000 after acquiring an additional 122 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business’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 value of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AMGN has been the subject of several research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Morgan Stanley increased their target price on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Amgen in a research report on Saturday, September 27th. Raymond James Financial started coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. Finally, Citigroup raised their price objective on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Seven equities 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 stock currently has a consensus rating of “Hold” and a consensus target price of $309.42.

Amgen Trading Down 1.3%

NASDAQ AMGN opened at $294.12 on Tuesday. The firm has a market cap of $158.34 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 2.59 and a beta of 0.49. The stock has a 50-day moving average of $287.20 and a 200-day moving average of $287.83. Amgen Inc. has a 1-year low of $253.30 and a 1-year 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 posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS 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 business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the previous year, the firm posted $4.97 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. Amgen’s dividend payout ratio (DPR) is 77.84%.

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.