KW Wealth Management LLC Makes New $437,000 Investment in Amgen Inc. $AMGN

KW Wealth Management LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 3rd quarter, Holdings Channel reports. The fund acquired 1,549 shares of the medical research company’s stock, valued at approximately $437,000.

Several other hedge funds have also recently made changes to their positions in AMGN. Brighton Jones LLC grew its stake in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. State of Wyoming acquired a new stake in shares of Amgen during the first quarter worth about $212,000. Activest Wealth Management boosted its position in Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after buying an additional 103 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Amgen by 536.3% in the 1st quarter. Panagora Asset Management Inc. now owns 104,940 shares of the medical research company’s stock worth $32,694,000 after buying an additional 88,447 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. raised its position in Amgen by 4.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 2,039 shares of the medical research company’s stock worth $635,000 after buying an additional 93 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on AMGN shares. Bank of America upped their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Scotiabank began coverage on Amgen in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price target on the stock. DZ Bank lifted their price objective on Amgen from $335.00 to $364.00 in a research note on Monday, November 10th. Citigroup upped their target price on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Finally, Piper Sandler lifted their price target on Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $332.85.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction 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 transaction, the senior vice president directly owned 7,082 shares in the company, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the sale, the executive vice president owned 41,923 shares in the company, valued at approximately $14,120,924.09. This trade represents a 14.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 10,908 shares of company stock valued at $3,674,966. 0.69% of the stock is owned by corporate insiders.

Amgen Trading Down 0.3%

AMGN stock opened at $332.93 on Monday. Amgen Inc. has a 52-week low of $257.05 and a 52-week high of $346.38. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45. The firm has a market cap of $179.28 billion, a P/E ratio of 25.73, a PEG ratio of 3.09 and a beta of 0.45. The company’s 50-day simple moving average is $322.98 and its 200-day simple moving average is $301.76.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results 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 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 quarterly 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 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a yield of 3.0%. This is an increase from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio is 73.57%.

Amgen Company 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.