Carter Financial Group INC. Buys New Position in Amgen Inc. $AMGN

Carter Financial Group INC. bought a new position in Amgen Inc. (NASDAQ:AMGN) during the second quarter, HoldingsChannel reports. The fund bought 2,249 shares of the medical research company’s stock, valued at approximately $623,000.

Other hedge funds have also bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new position in shares of Amgen during the 1st quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 85 shares in the last quarter. Evelyn Partners Investment Management LLP bought a new position in shares of Amgen in the second quarter worth approximately $32,000. Finally, Howard Hughes Medical Institute purchased a new stake in shares of Amgen in the second quarter worth $32,000. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Piper Sandler boosted their price objective on Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. HSBC reiterated a “buy” rating and set a $425.00 target price on shares of Amgen in a research report on Wednesday. The Goldman Sachs Group reissued a “buy” rating on shares of Amgen in a research note on Tuesday, November 25th. Finally, DZ Bank upped their price target on Amgen from $335.00 to $364.00 in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $332.85.

Insider Activity

In related news, SVP Rachna Khosla sold 890 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the transaction, the senior vice president owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. This trade represents a 11.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Murdo Gordon sold 6,879 shares of Amgen stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. This represents a 14.10% 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. 0.76% of the stock is currently owned by corporate insiders.

Amgen Stock Performance

NASDAQ:AMGN opened at $317.74 on Friday. The company has a market cap of $171.10 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 2.87 and a beta of 0.45. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.38. The stock’s 50 day simple moving average is $316.12 and its two-hundred day simple moving average is $298.78. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating 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 firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same period last year, the firm posted $5.58 earnings per share. Amgen’s revenue for the quarter was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm 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 is a boost from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.2%. Amgen’s payout ratio is presently 73.57%.

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.