Oxler Private Wealth LLC Reduces Position in Amgen Inc. $AMGN

Oxler Private Wealth LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 8,807 shares of the medical research company’s stock after selling 333 shares during the period. Amgen comprises about 0.8% of Oxler Private Wealth LLC’s portfolio, making the stock its 24th largest holding. Oxler Private Wealth LLC’s holdings in Amgen were worth $2,459,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OLD National Bancorp IN grew its stake in Amgen by 296.2% during the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after purchasing an additional 13,460 shares in the last quarter. Atlantic Union Bankshares Corp grew its holdings 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 acquiring an additional 6,627 shares during the period. Trinity Legacy Partners LLC increased its position in shares of Amgen by 3.9% in the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after buying an additional 612 shares in the last quarter. Founders Financial Alliance LLC grew its position in shares of Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after purchasing an additional 42 shares during the last quarter. Finally, Stephens Inc. AR grew its holdings in Amgen by 14.2% during 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 during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the transaction, the senior vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the transaction, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,908 shares of company stock valued at $3,674,966 in the last 90 days. 0.76% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AMGN shares. DZ Bank upped their price target on Amgen from $335.00 to $364.00 in a report on Monday, November 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. Truist Financial initiated coverage on Amgen in a research note on Monday. They issued a “hold” rating and a $318.00 target price on the stock. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Finally, Raymond James Financial started coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $333.74.

Amgen Price Performance

NASDAQ AMGN opened at $344.57 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $345.84. The firm has a market cap of $185.54 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The stock’s 50-day moving average is $306.32 and its two-hundred day moving average is $294.25.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same period in the previous year, the company earned $5.58 earnings per share. The company’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. On average, analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s payout ratio is currently 73.57%.

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.