Spectrum Planning & Advisory Services Inc. Purchases New Holdings in Amgen Inc. $AMGN

Spectrum Planning & Advisory Services Inc. purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, HoldingsChannel reports. The fund purchased 919 shares of the medical research company’s stock, valued at approximately $257,000.

Several other hedge funds have also made changes to their positions in AMGN. Wealth Preservation Advisors LLC acquired a new position in Amgen in the 1st quarter valued at approximately $25,000. First Pacific Financial increased 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 valued at $28,000 after buying an additional 67 shares during the period. CBIZ Investment Advisory Services LLC increased its stake in Amgen by 1,214.3% in the 1st 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 during the period. Activest Wealth Management increased its stake in Amgen by 3,433.3% in the 1st 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 period. Finally, Heck Capital Advisors LLC acquired a new position in Amgen in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $279.22 on Thursday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The firm’s fifty day simple moving average is $289.84 and its 200 day simple moving average is $289.92. 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 firm has a market capitalization of $150.32 billion, a PE ratio of 22.83, a PEG ratio of 2.49 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the business posted $4.97 EPS. Amgen’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. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company 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 3.4%. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the 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 directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Bank of America increased their price target on shares of Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 23rd. Citigroup increased their price target on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, UBS Group dropped their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $309.15.

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.