Belpointe Asset Management LLC Raises Stock Position in Amgen Inc. $AMGN

Belpointe Asset Management LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,564 shares of the medical research company’s stock after purchasing an additional 165 shares during the quarter. Belpointe Asset Management LLC’s holdings in Amgen were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Amgen by 0.3% during the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after buying an additional 148,658 shares during the period. Royal Bank of Canada boosted its position in shares of Amgen by 6.0% during the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock valued at $1,521,339,000 after acquiring an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Amgen by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock valued at $1,387,695,000 after acquiring an additional 243,306 shares during the last quarter. Deutsche Bank AG increased its position in shares of Amgen by 1.6% in the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock worth $1,017,525,000 after purchasing an additional 52,734 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Amgen by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock worth $940,989,000 after purchasing an additional 22,820 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on AMGN. Weiss Ratings reiterated a “hold (c+)” rating on shares of Amgen in a research report on Saturday, September 27th. Raymond James Financial assumed coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. 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. Bank of America lifted their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Finally, Citigroup increased their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $309.42.

Insider Activity

In related 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 of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $294.12 on Tuesday. The company has a 50-day simple moving average of $287.20 and a two-hundred day simple moving average of $287.83. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The firm has a market cap of $158.34 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 2.59 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 (NASDAQ:AMGN) last released its earnings results 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 analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders 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 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio is 77.84%.

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.