Pacific Heights Asset Management LLC Has $23.99 Million Stock Holdings in Amgen Inc. $AMGN

Pacific Heights Asset Management LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 28.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 85,000 shares of the medical research company’s stock after buying an additional 19,000 shares during the quarter. Amgen makes up approximately 1.1% of Pacific Heights Asset Management LLC’s portfolio, making the stock its 23rd largest position. Pacific Heights Asset Management LLC’s holdings in Amgen were worth $23,987,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMGN. Caldwell Sutter Capital Inc. grew its stake in shares of Amgen by 2.5% in the third quarter. Caldwell Sutter Capital Inc. now owns 1,761 shares of the medical research company’s stock valued at $497,000 after acquiring an additional 43 shares in the last quarter. Slow Capital Inc. raised its stake in Amgen by 2.2% in the 3rd quarter. Slow Capital Inc. now owns 12,487 shares of the medical research company’s stock worth $3,524,000 after purchasing an additional 266 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in Amgen by 23.1% in the 3rd quarter. Arkadios Wealth Advisors now owns 21,762 shares of the medical research company’s stock valued at $6,141,000 after purchasing an additional 4,086 shares during the period. Turtle Creek Wealth Advisors LLC grew its position in shares of Amgen by 7.1% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 6,064 shares of the medical research company’s stock worth $1,711,000 after purchasing an additional 401 shares in the last quarter. Finally, Nordwand Advisors LLC grew its position in shares of Amgen by 2.0% during the 3rd quarter. Nordwand Advisors LLC now owns 25,202 shares of the medical research company’s stock worth $7,112,000 after purchasing an additional 497 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the 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 transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at $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 available at this link. Also, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the sale, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. This represents a 11.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 10,908 shares of company stock worth $3,674,966. Corporate insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of a number of analyst reports. Guggenheim lifted their price target on shares of Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Royal Bank Of Canada raised their price objective on Amgen from $330.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. 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 report on Friday, September 26th. Deutsche Bank Aktiengesellschaft increased their target price on Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Finally, BMO Capital Markets boosted their price target on Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.45.

Amgen Trading Up 0.1%

Shares of AMGN stock opened at $330.41 on Tuesday. Amgen Inc. has a fifty-two week low of $261.43 and a fifty-two week high of $346.38. The stock’s fifty day moving average price is $331.69 and its two-hundred day moving average price is $306.41. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The company has a market cap of $177.92 billion, a PE ratio of 25.53, a P/E/G ratio of 2.94 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.Amgen’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal 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 issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s dividend payout ratio (DPR) is currently 73.57%.

Amgen Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.