Lineweaver Wealth Advisors LLC Has $1.77 Million Stock Holdings in Amgen Inc. $AMGN

Lineweaver Wealth Advisors LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 12.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,331 shares of the medical research company’s stock after purchasing an additional 688 shares during the period. Lineweaver Wealth Advisors LLC’s holdings in Amgen were worth $1,768,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC acquired a new stake in Amgen in the first quarter valued at approximately $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 in 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 in the last quarter. Pinney & Scofield Inc. acquired a new stake in Amgen in the fourth quarter valued at approximately $26,000. Finally, 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 in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 0.5%

AMGN opened at $273.08 on Wednesday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. 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 $147.02 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 2.38 and a beta of 0.49. The company has a fifty day moving average price of $291.69 and a two-hundred day moving average price of $291.20.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the previous year, the firm posted $4.97 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.5%. Amgen’s payout ratio is presently 77.84%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Raymond James Financial assumed coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Wall Street Zen downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Guggenheim initiated coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price target for the company. Bank of America raised their price target on shares of Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a research note on Wednesday, July 23rd. Finally, UBS Group dropped their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $304.43.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s 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 completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.69% of the stock is currently owned by insiders.

About Amgen

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.