Farther Finance Advisors LLC Grows Stake in Amgen Inc. $AMGN

Farther Finance Advisors LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 22.8% during the third quarter, HoldingsChannel.com reports. The firm owned 17,035 shares of the medical research company’s stock after buying an additional 3,158 shares during the period. Farther Finance Advisors LLC’s holdings in Amgen were worth $4,807,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new stake in Amgen in the first quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen during the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC raised its position in shares of Amgen by 1,214.3% in the 1st 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 during the last quarter. Evelyn Partners Investment Management LLP purchased a new position in shares of Amgen in the 2nd quarter valued at approximately $32,000. Finally, Howard Hughes Medical Institute acquired a new stake in Amgen in the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Scotiabank initiated coverage on shares of Amgen in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Amgen from $329.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, December 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Amgen in a research report on Monday. Wells Fargo & Company raised their target price on Amgen from $300.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 10th. Finally, Citigroup boosted their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $332.85.

Insider Buying and Selling at Amgen

In related 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 $14,120,924.09. This represents a 14.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction dated Thursday, November 20th. The stock was 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 in the company, valued at approximately $2,436,703.50. The trade was a 30.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,908 shares of company stock valued at $3,674,966 over the last ninety days. Corporate insiders own 0.76% of the company’s stock.

Amgen Stock Up 0.3%

AMGN stock opened at $332.50 on Thursday. Amgen Inc. has a one year low of $257.05 and a one year high of $346.38. 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 firm’s fifty day moving average is $321.56 and its 200 day moving average is $301.12. The firm has a market cap of $179.04 billion, a PE ratio of 25.70, a P/E/G ratio of 3.08 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last issued 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. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be given a dividend of $2.52 per share. This is a boost from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date 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.