Pines Wealth Management LLC Purchases 145 Shares of Amgen Inc. $AMGN

Pines Wealth Management LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,111 shares of the medical research company’s stock after purchasing an additional 145 shares during the quarter. Pines Wealth Management LLC’s holdings in Amgen were worth $1,524,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMGN. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen during the first quarter worth $25,000. Pinney & Scofield Inc. purchased a new position in Amgen in the 4th quarter worth $26,000. First Pacific Financial raised its stake in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after acquiring an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its position in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after acquiring an additional 85 shares during the period. Finally, Activest Wealth Management grew its stake in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on 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 approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is owned by company insiders.

Amgen Price Performance

Amgen stock opened at $273.08 on Wednesday. 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 company has a market capitalization of $147.02 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 2.38 and a beta of 0.49. The company’s 50 day simple moving average is $291.69 and its 200-day simple moving average is $291.20. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion for 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 company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

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

Analyst Ratings Changes

AMGN has been the subject of several research reports. Raymond James Financial initiated coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Bank of America increased their price target on Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 23rd. Citigroup lifted their price objective on Amgen from $305.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Guggenheim assumed coverage on Amgen in a research note on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price on the stock. Finally, Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $304.43.

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.