Stone Summit Wealth LLC Has $512,000 Position in Amgen Inc. $AMGN

Stone Summit Wealth LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 5.6% in the second quarter, HoldingsChannel.com reports. The firm owned 1,835 shares of the medical research company’s stock after purchasing an additional 97 shares during the quarter. Stone Summit Wealth LLC’s holdings in Amgen were worth $512,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Octavia Wealth Advisors LLC grew 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 worth $759,000 after purchasing an additional 35 shares during the period. Crumly & Associates Inc. grew its holdings in shares of Amgen by 3.2% during the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after buying an additional 36 shares during the last quarter. Maryland Capital Advisors Inc. grew its holdings in shares of Amgen by 5.2% during the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock valued at $204,000 after buying an additional 36 shares during the last quarter. Affinity Capital Advisors LLC grew its holdings in shares of Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock valued at $246,000 after buying an additional 37 shares during the last quarter. Finally, Accredited Investors Inc. grew its holdings in shares of Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock valued at $674,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMGN. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Citigroup lifted their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Morgan Stanley lifted their price objective on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Finally, Raymond James Financial began coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $309.70.

Amgen Stock Up 0.7%

AMGN opened at $272.98 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’s 50-day moving average is $288.86 and its 200 day moving average is $289.06. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The firm has a market capitalization of $146.96 billion, a P/E ratio of 22.32, a PEG ratio of 2.37 and a beta of 0.49.

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

Amgen Announces Dividend

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

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.76% of the company’s stock.

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.