Thrive Wealth Management LLC Has $914,000 Stock Position in Amgen Inc. $AMGN

Thrive Wealth Management LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 14.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,272 shares of the medical research company’s stock after buying an additional 420 shares during the period. Thrive Wealth Management LLC’s holdings in Amgen were worth $914,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in 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 buying an additional 148,658 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Amgen by 15.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company’s stock worth $1,336,647,000 after buying an additional 685,785 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Amgen by 6.0% in 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 in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Amgen by 5.8% in 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 in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after buying an additional 3,653,205 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is owned by corporate insiders.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $273.08 on Wednesday. The company has a market capitalization of $147.02 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 2.38 and a beta of 0.49. The firm’s 50 day simple moving average is $291.69 and its 200 day simple moving average is $291.20. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17.

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

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent research reports. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price for the company. UBS Group reduced their target price 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. Bank of America boosted their target price 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. Citigroup boosted their target price on shares of Amgen from $305.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $304.43.

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.