Tandem Investment Partners LLC Raises Stock Holdings in Amgen Inc. $AMGN

Tandem Investment Partners LLC increased its position in Amgen Inc. (NASDAQ:AMGN) by 17.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,047 shares of the medical research company’s stock after purchasing an additional 300 shares during the period. Tandem Investment Partners LLC’s holdings in Amgen were worth $572,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. O Keefe Stevens Advisory Inc. grew its stake in shares of Amgen by 2.0% in the second quarter. O Keefe Stevens Advisory Inc. now owns 49,980 shares of the medical research company’s stock worth $13,955,000 after acquiring an additional 981 shares during the last quarter. Talbot Financial LLC grew its stake in shares of Amgen by 25.3% in the second quarter. Talbot Financial LLC now owns 52,822 shares of the medical research company’s stock worth $14,748,000 after acquiring an additional 10,666 shares during the last quarter. Willner & Heller LLC grew its stake in shares of Amgen by 2.1% in the second quarter. Willner & Heller LLC now owns 3,050 shares of the medical research company’s stock worth $852,000 after acquiring an additional 64 shares during the last quarter. Oak Hill Wealth Advisors LLC grew its stake in shares of Amgen by 1.7% in the second quarter. Oak Hill Wealth Advisors LLC now owns 2,450 shares of the medical research company’s stock worth $728,000 after acquiring an additional 40 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. grew its stake in shares of Amgen by 4.1% in the second quarter. Penobscot Investment Management Company Inc. now owns 16,705 shares of the medical research company’s stock worth $4,664,000 after acquiring an additional 663 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on AMGN. Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a research note on Friday. Cantor Fitzgerald reissued a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Amgen in a research note on Saturday, September 27th. UBS Group lowered their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Finally, Raymond James Financial assumed coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Seven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Amgen has an average rating of “Hold” and an average target price of $309.70.

Insider Transactions at Amgen

In related 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 owned 7,209 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Company insiders own 0.76% of the company’s stock.

Amgen Stock Up 0.2%

NASDAQ AMGN opened at $297.89 on Friday. The stock’s 50-day moving average price is $287.34 and its 200-day moving average price is $288.17. 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. The company has a market capitalization of $160.37 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 2.59 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 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter last year, the company earned $4.97 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts predict 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. Investors of record on Friday, August 22nd were paid 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 77.84%.

Amgen 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.