Amgen Inc. $AMGN Stock Holdings Lifted by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 12.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 40,307 shares of the medical research company’s stock after purchasing an additional 4,479 shares during the period. WealthPlan Investment Management LLC’s holdings in Amgen were worth $11,254,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen in the 1st quarter worth about $25,000. First Pacific Financial raised its position in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after buying an additional 85 shares in the last quarter. Activest Wealth Management raised its position in shares of Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after buying an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. raised its position in shares of Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock worth $38,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN opened at $297.32 on Thursday. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The company has a 50-day moving average of $286.71 and a two-hundred day moving average of $287.44. The stock has a market cap of $160.07 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 2.60 and a beta of 0.49. 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 announced its earnings results 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. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period last year, the company posted $4.97 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

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

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. UBS Group lowered their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Piper Sandler lifted their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Bank of America lifted their price objective on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $309.42.

Insider Activity at Amgen

In related 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 completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents 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 the SEC website. 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.