Amgen Inc. $AMGN Shares Bought by Novare Capital Management LLC

Novare Capital Management LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 44.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 979 shares of the medical research company’s stock after purchasing an additional 300 shares during the quarter. Novare Capital Management LLC’s holdings in Amgen were worth $273,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMGN. Brighton Jones LLC boosted its holdings in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Amgen by 40.2% in the 1st quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company’s stock valued at $3,662,000 after acquiring an additional 3,369 shares during the period. Blue Trust Inc. raised its stake in shares of Amgen by 17.7% in the 1st quarter. Blue Trust Inc. now owns 2,808 shares of the medical research company’s stock valued at $875,000 after acquiring an additional 422 shares during the period. Avior Wealth Management LLC raised its stake in shares of Amgen by 32.8% in the 1st quarter. Avior Wealth Management LLC now owns 2,483 shares of the medical research company’s stock valued at $774,000 after acquiring an additional 613 shares during the period. Finally, Segment Wealth Management LLC raised its stake in shares of Amgen by 99.0% in the 1st quarter. Segment Wealth Management LLC now owns 1,761 shares of the medical research company’s stock valued at $549,000 after acquiring an additional 876 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of a number of research reports. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Citigroup raised their target price on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Raymond James Financial initiated coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Piper Sandler raised their target price on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. Finally, UBS Group dropped their price target 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. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $305.50.

Insider Buying and Selling at Amgen

In other 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 completion of the sale, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.76% of the company’s stock.

Amgen Stock Performance

Amgen stock opened at $298.81 on Friday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The company has a market capitalization of $160.87 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 2.64 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. The firm’s fifty day moving average price is $287.14 and its 200 day moving average price is $287.15.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results 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 firm 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 firm’s quarterly revenue 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, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen’s payout ratio is presently 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.