Park Place Capital Corp Raises Holdings in Amgen Inc. $AMGN

Park Place Capital Corp lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 7.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,064 shares of the medical research company’s stock after acquiring an additional 135 shares during the period. Park Place Capital Corp’s holdings in Amgen were worth $600,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. XML Financial LLC grew its stake in shares of Amgen by 0.7% during the second quarter. XML Financial LLC now owns 22,269 shares of the medical research company’s stock worth $6,218,000 after acquiring an additional 154 shares during the last quarter. HCR Wealth Advisors grew its stake in shares of Amgen by 1.1% during the second quarter. HCR Wealth Advisors now owns 4,802 shares of the medical research company’s stock worth $1,341,000 after acquiring an additional 54 shares during the last quarter. Capital Investment Advisors LLC grew its stake in shares of Amgen by 0.3% during the second quarter. Capital Investment Advisors LLC now owns 30,935 shares of the medical research company’s stock worth $8,637,000 after acquiring an additional 94 shares during the last quarter. Centennial Wealth Advisory LLC grew its stake in shares of Amgen by 7.6% during the second quarter. Centennial Wealth Advisory LLC now owns 1,656 shares of the medical research company’s stock worth $463,000 after acquiring an additional 117 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. boosted its position in Amgen by 2.1% in the second quarter. Sterling Investment Advisors Ltd. now owns 13,119 shares of the medical research company’s stock valued at $3,663,000 after buying an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity at Amgen

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

Amgen Price Performance

Shares of NASDAQ AMGN opened at $273.97 on Tuesday. The stock has a market capitalization of $147.49 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.37 and a beta of 0.49. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The firm’s 50 day simple moving average is $288.42 and its 200-day simple moving average is $288.61. 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 (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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

Analyst Upgrades and Downgrades

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

Amgen Company 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.