BCS Private Wealth Management Inc. Invests $824,000 in Amgen Inc. $AMGN

BCS Private Wealth Management Inc. bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,950 shares of the medical research company’s stock, valued at approximately $824,000.

Other institutional investors also recently bought and sold shares of the company. Fairvoy Private Wealth LLC grew its position in shares of Amgen by 1.1% during the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after purchasing an additional 35 shares in the last quarter. Nicholson Wealth Management Group LLC boosted its stake in Amgen by 0.6% during the second quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock valued at $1,652,000 after buying an additional 35 shares during the last quarter. Crumly & Associates Inc. grew its holdings in Amgen by 3.2% during the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after buying an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. grew its holdings in Amgen by 5.2% during the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock valued at $204,000 after buying an additional 36 shares in the last quarter. Finally, Lion Street Advisors LLC increased its stake in Amgen by 1.3% in the 2nd quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock worth $774,000 after acquiring an additional 36 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

AMGN stock opened at $313.85 on Wednesday. The stock has a market cap of $169.00 billion, a PE ratio of 24.25, a P/E/G ratio of 2.90 and a beta of 0.45. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.38. The company has a 50-day moving average price of $314.99 and a 200 day moving average price of $298.07. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. During the same period in the prior year, the company posted $5.58 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be paid a dividend of $2.52 per share. This is an increase from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s payout ratio is presently 73.57%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. HSBC increased their target price on Amgen from $343.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. DZ Bank increased their price objective on shares of Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. Wells Fargo & Company set a $400.00 target price on shares of Amgen in a report on Tuesday, November 25th. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Finally, Piper Sandler lifted their price target on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Amgen has a consensus rating of “Moderate Buy” and a consensus target price of $335.65.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the completion of the sale, the senior vice president owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This represents a 30.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the sale, the senior vice president owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 10,908 shares of company stock worth $3,674,966. Insiders own 0.69% 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.