Wealth Alliance Advisory Group LLC Raises Stake in Amgen Inc. $AMGN

Wealth Alliance Advisory Group LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,163 shares of the medical research company’s stock after acquiring an additional 160 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in Amgen were worth $1,721,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Continuum Advisory LLC lifted its holdings in Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after acquiring an additional 35 shares during the period. Octavia Wealth Advisors LLC lifted its holdings in Amgen by 1.5% in the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock valued at $759,000 after acquiring an additional 35 shares during the period. Crumly & Associates Inc. lifted its holdings in Amgen by 3.2% in the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after acquiring an additional 36 shares during the period. Affinity Capital Advisors LLC lifted its holdings in Amgen by 4.5% in the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock valued at $246,000 after acquiring an additional 37 shares during the period. Finally, Accredited Investors Inc. lifted its holdings in Amgen by 1.7% in the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock valued at $674,000 after acquiring an additional 37 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.76% of the company’s stock.

Amgen Trading Down 2.2%

Shares of AMGN stock opened at $276.39 on Friday. 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 company has a market cap of $148.80 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.46 and a beta of 0.49. The stock has a 50 day simple moving average of $292.54 and a 200-day simple moving average of $291.66. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping 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 business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the company posted $4.97 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio is currently 77.84%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Raymond James Financial assumed coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Guggenheim assumed coverage on Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target for the company. UBS Group decreased their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Citigroup upped their target price on Amgen from $305.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $304.43.

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.