Advisory Services Network LLC Increases Stock Position in Amgen Inc. $AMGN

Advisory Services Network LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 16.5% in the second quarter, Holdings Channel reports. The firm owned 31,648 shares of the medical research company’s stock after acquiring an additional 4,491 shares during the period. Advisory Services Network LLC’s holdings in Amgen were worth $9,339,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AMGN. Wealth Preservation Advisors LLC acquired a new stake in Amgen in the 1st quarter valued at $25,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after buying an additional 85 shares during the period. Legacy Investment Solutions LLC acquired a new position in Amgen during the 2nd quarter worth approximately $27,000. Activest Wealth Management boosted its holdings in Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after acquiring an additional 103 shares during the period. Finally, Evelyn Partners Investment Management LLP purchased a new position in Amgen in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity

In other news, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares in the company, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 10,908 shares of company stock valued at $3,674,966. 0.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

AMGN has been the topic of a number of recent research reports. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Monday. Cantor Fitzgerald raised their target price on Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Daiwa Capital Markets lifted their target price on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Finally, Bank of America increased their price target on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $332.85.

Amgen Stock Up 0.1%

NASDAQ:AMGN opened at $317.74 on Monday. 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 capitalization of $171.10 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 2.87 and a beta of 0.45. Amgen Inc. has a one year low of $253.30 and a one year high of $346.38. The stock has a 50-day simple moving average of $316.12 and a 200 day simple moving average of $298.92.

Amgen (NASDAQ:AMGN) last released its 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 for the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.Amgen’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be issued a $2.52 dividend. 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 yield of 3.2%. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s dividend payout ratio is 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.