Amgen Inc. $AMGN Shares Bought by Granite Group Advisors LLC

Granite Group Advisors LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,138 shares of the medical research company’s stock after buying an additional 54 shares during the period. Amgen makes up approximately 1.5% of Granite Group Advisors LLC’s portfolio, making the stock its 14th largest position. Granite Group Advisors LLC’s holdings in Amgen were worth $2,551,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares during the period. GAMMA Investing LLC grew its position in shares of Amgen by 40.2% during the first quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company’s stock worth $3,662,000 after buying an additional 3,369 shares in the last quarter. Acropolis Investment Management LLC increased its stake in shares of Amgen by 7.8% during the first quarter. Acropolis Investment Management LLC now owns 1,097 shares of the medical research company’s stock worth $342,000 after buying an additional 79 shares during the period. Mission Wealth Management LP raised its holdings in Amgen by 5.0% in the first quarter. Mission Wealth Management LP now owns 10,991 shares of the medical research company’s stock valued at $3,424,000 after acquiring an additional 528 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC lifted its stake in Amgen by 8.5% in the first quarter. Blackston Financial Advisory Group LLC now owns 1,148 shares of the medical research company’s stock worth $358,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.5%

Shares of NASDAQ AMGN opened at $293.85 on Wednesday. The business has a 50-day moving average price of $286.46 and a 200 day moving average price of $287.37. The stock has a market cap of $158.20 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 2.54 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88.

Amgen (NASDAQ:AMGN) last issued 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 during the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter 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 research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on 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 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Finally, Citigroup raised their target price on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus price target of $309.42.

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.