Johnson Investment Counsel Inc. Increases Holdings in Amgen Inc. $AMGN

Johnson Investment Counsel Inc. lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 26,244 shares of the medical research company’s stock after buying an additional 555 shares during the period. Johnson Investment Counsel Inc.’s holdings in Amgen were worth $7,328,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AMGN. Brighton Jones LLC boosted its stake in shares of 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 acquiring an additional 5,226 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Amgen by 40.2% during the 1st quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company’s stock worth $3,662,000 after acquiring an additional 3,369 shares in the last quarter. Goldstone Financial Group LLC purchased a new stake in shares of Amgen during the 1st quarter worth approximately $239,000. Griffin Asset Management Inc. purchased a new stake in shares of Amgen during the 1st quarter worth approximately $230,000. Finally, Tritonpoint Wealth LLC boosted its stake in shares of Amgen by 5.7% during the 1st quarter. Tritonpoint Wealth LLC now owns 1,828 shares of the medical research company’s stock worth $569,000 after acquiring an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction 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 transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.69% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMGN. Citigroup upped their target price on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Piper Sandler upped their target price on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. UBS Group reduced their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Finally, Bank of America upped their target price on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Eight equities 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $309.42.

Amgen Trading Down 1.8%

Shares of Amgen stock opened at $290.13 on Monday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The firm has a market cap of $156.19 billion, a PE ratio of 23.72, a P/E/G ratio of 2.52 and a beta of 0.49. The business’s fifty day moving average is $286.77 and its two-hundred day moving average is $287.43. 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 (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the company posted $4.97 EPS. 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. Analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

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