Amgen Inc. $AMGN Shares Acquired by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 13.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,360 shares of the medical research company’s stock after buying an additional 623 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Amgen were worth $1,497,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Johnson Investment Counsel Inc. raised its holdings in shares of Amgen by 2.2% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 26,244 shares of the medical research company’s stock valued at $7,328,000 after buying an additional 555 shares during the period. Matrix Asset Advisors Inc. NY raised its holdings in shares of Amgen by 4.4% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 101,598 shares of the medical research company’s stock valued at $28,367,000 after buying an additional 4,284 shares during the period. Apollon Wealth Management LLC raised its holdings in shares of Amgen by 0.9% during the 2nd quarter. Apollon Wealth Management LLC now owns 21,226 shares of the medical research company’s stock valued at $5,927,000 after buying an additional 186 shares during the period. Keener Financial Planning LLC raised its holdings in shares of Amgen by 2,272.1% during the 2nd quarter. Keener Financial Planning LLC now owns 1,020 shares of the medical research company’s stock valued at $284,000 after buying an additional 977 shares during the period. Finally, Ball & Co Wealth Management Inc. increased its holdings in Amgen by 0.7% during the 2nd quarter. Ball & Co Wealth Management Inc. now owns 14,021 shares of the medical research company’s stock worth $3,914,000 after purchasing an additional 104 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMGN. Citigroup boosted their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Morgan Stanley raised their target price on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Raymond James Financial started coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating for the company. Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Finally, Bank of America raised their price target on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $309.42.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s 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 transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.76% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $290.13 on Friday. The firm’s 50-day moving average is $286.77 and its 200-day moving average is $287.55. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The company has a market cap of $156.19 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.52 and a beta of 0.49.

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

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen’s payout ratio is 77.84%.

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.