Axxcess Wealth Management LLC Boosts Stock Position in Amgen Inc. $AMGN

Axxcess Wealth Management LLC increased its position in Amgen Inc. (NASDAQ:AMGN) by 59.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,638 shares of the medical research company’s stock after acquiring an additional 6,172 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Amgen were worth $4,695,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the 2nd quarter valued at $27,000. Evelyn Partners Investment Management LLP purchased a new position in shares of Amgen in the second quarter valued at about $32,000. Howard Hughes Medical Institute purchased a new position in shares of Amgen in the second quarter valued at about $32,000. Quaker Wealth Management LLC boosted its stake in shares of Amgen by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after acquiring an additional 240 shares during the period. Finally, Cloud Capital Management LLC purchased a new stake in shares of Amgen during the third quarter worth about $34,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 1.7%

NASDAQ AMGN opened at $379.73 on Thursday. The stock has a 50 day moving average price of $340.91 and a 200-day moving average price of $315.28. Amgen Inc. has a one year low of $261.43 and a one year high of $385.12. The company has a debt-to-equity ratio of 5.78, a quick ratio of 0.90 and a current ratio of 1.14. The company has a market capitalization of $204.70 billion, a P/E ratio of 26.69, a P/E/G ratio of 3.82 and a beta of 0.46.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.76 by $0.53. Amgen had a net margin of 20.98% and a return on equity of 148.37%. The company had revenue of $9.87 billion for the quarter, compared to the consensus estimate of $9.46 billion. During the same quarter in the prior year, the firm earned $5.31 earnings per share. Amgen’s revenue was up 8.6% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. As a group, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors 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 2.7%. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. Amgen’s payout ratio is 70.84%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Erste Group Bank raised Amgen from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. Freedom Capital lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Piper Sandler boosted their target price on shares of Amgen from $381.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial upped their target price on shares of Amgen from $318.00 to $319.00 and gave the stock a “hold” rating in a research report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amgen in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $349.75.

About Amgen

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.