Simplicity Wealth LLC Purchases 3,886 Shares of Amgen Inc. $AMGN

Simplicity Wealth LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 310.4% in the second quarter, Holdings Channel reports. The institutional investor owned 5,138 shares of the medical research company’s stock after buying an additional 3,886 shares during the period. Simplicity Wealth LLC’s holdings in Amgen were worth $1,434,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Amgen by 0.3% during the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock worth $16,471,790,000 after purchasing an additional 148,658 shares during the period. Royal Bank of Canada lifted its holdings in Amgen by 6.0% during the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock worth $1,521,339,000 after buying an additional 274,488 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Amgen by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock worth $1,387,695,000 after buying an additional 243,306 shares during the period. Deutsche Bank AG grew its position in shares of Amgen by 1.6% in the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock valued at $1,017,525,000 after buying an additional 52,734 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Amgen by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock valued at $940,989,000 after buying an additional 22,820 shares during the period. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMGN has been the topic of several analyst reports. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a report on Friday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amgen in a research note on Saturday, September 27th. Morgan Stanley lifted their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Bank of America upped their price target on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $309.42.

Insider Activity

In related 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 value of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Amgen Trading Down 1.3%

AMGN opened at $294.12 on Tuesday. The company has a fifty day moving average price of $287.20 and a two-hundred day moving average price 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 market cap of $158.34 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 2.59 and a beta of 0.49. 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 issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period last year, the business posted $4.97 EPS. The firm’s revenue for the quarter 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 Dividend Announcement

The company 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. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio is presently 77.84%.

Amgen 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.