Joseph Group Capital Management Buys 2,098 Shares of Amgen Inc. $AMGN

Joseph Group Capital Management raised its stake in Amgen Inc. (NASDAQ:AMGN) by 17.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,467 shares of the medical research company’s stock after buying an additional 2,098 shares during the period. Amgen comprises about 1.2% of Joseph Group Capital Management’s investment portfolio, making the stock its 29th biggest position. Joseph Group Capital Management’s holdings in Amgen were worth $4,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its position 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 buying an additional 85 shares during the period. Evelyn Partners Investment Management LLP bought a new position in shares of Amgen during the second quarter valued at about $32,000. Howard Hughes Medical Institute purchased a new position in shares of Amgen in the second quarter worth about $32,000. Finally, Quaker Wealth Management LLC boosted its holdings in Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 240 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the sale, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. The trade was a 11.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,908 shares of company stock valued at $3,674,966 in the last three months. 0.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on AMGN shares. HSBC reiterated a “buy” rating and issued a $425.00 price objective on shares of Amgen in a research report on Wednesday, December 10th. Daiwa Capital Markets upped their price target on shares of Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. Argus boosted their price objective on shares of Amgen from $310.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, December 30th. Finally, Erste Group Bank upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, December 5th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $338.55.

Amgen Stock Performance

Shares of AMGN opened at $330.11 on Friday. Amgen Inc. has a one year low of $260.55 and a one year high of $346.38. The company has a 50-day simple moving average of $329.19 and a two-hundred day simple moving average of $303.93. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99. The firm has a market capitalization of $177.76 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.11 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating 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%.The firm’s revenue for the quarter 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. On average, analysts anticipate 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. Stockholders of record on Friday, February 13th will be given 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 dividend yield of 3.1%. This is a boost from Amgen’s previous quarterly dividend of $2.38. Amgen’s payout ratio is currently 73.57%.

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.