Triad Wealth Partners LLC Invests $206,000 in Amgen Inc. $AMGN

Triad Wealth Partners LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 738 shares of the medical research company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. KPP Advisory Services LLC boosted its position in Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after purchasing an additional 2,716 shares during the last quarter. Advisor Resource Council acquired a new stake in Amgen during the first quarter valued at $1,331,000. Trinity Legacy Partners LLC boosted its position in Amgen by 3.9% during the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after purchasing an additional 612 shares during the last quarter. DLK Investment Management LLC boosted its position in Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after purchasing an additional 1,387 shares during the last quarter. Finally, Founders Financial Alliance LLC raised its holdings in Amgen by 2.7% during the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after buying an additional 42 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.76% of the company’s stock.

Amgen Stock Up 0.2%

NASDAQ AMGN opened at $297.89 on Friday. 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 stock’s 50 day moving average is $287.34 and its two-hundred day moving average is $288.17. The company has a market capitalization of $160.37 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.59 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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 company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts forecast 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 issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMGN shares. UBS Group cut their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Citigroup raised their target price on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Cantor Fitzgerald restated a “neutral” rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $309.70.

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.