King Wealth Increases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

King Wealth increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,660 shares of the medical research company’s stock after buying an additional 686 shares during the quarter. King Wealth’s holdings in Amgen were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL purchased a new stake in Amgen during the 1st quarter valued at about $28,000. PrairieView Partners LLC grew its stake in Amgen by 250.0% during the 2nd quarter. PrairieView Partners LLC now owns 140 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Lumature Wealth Partners LLC grew its stake in Amgen by 51.1% during the 1st quarter. Lumature Wealth Partners LLC now owns 142 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 48 shares during the last quarter. Guardian Wealth Advisors LLC purchased a new stake in Amgen during the 1st quarter valued at about $37,000. Finally, Impact Partnership Wealth LLC purchased a new stake in Amgen during the 2nd quarter valued at about $37,000. 74.44% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of Amgen stock traded up $3.17 during mid-day trading on Wednesday, reaching $273.19. 139,816 shares of the stock traded hands, compared to its average volume of 2,464,051. The business has a 50-day moving average of $268.70 and a 200 day moving average of $246.75. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $291.60. The stock has a market capitalization of $146.21 billion, a PE ratio of 19.19, a PEG ratio of 2.55 and a beta of 0.58. The company has a quick ratio of 2.56, a current ratio of 2.86 and a debt-to-equity ratio of 7.71.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, October 31st. The medical research company reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.65 by $0.31. The business had revenue of $6.90 billion during the quarter, compared to analyst estimates of $6.92 billion. Amgen had a return on equity of 165.37% and a net margin of 28.20%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.70 earnings per share. On average, analysts predict that Amgen Inc. will post 18.65 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a $2.13 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.12%. Amgen’s dividend payout ratio (DPR) is presently 60.55%.

Insider Activity

In other news, EVP Jonathan P. Graham sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $272.81, for a total value of $2,728,100.00. Following the completion of the sale, the executive vice president now directly owns 28,078 shares in the company, valued at $7,659,959.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Jonathan P. Graham sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $272.81, for a total value of $2,728,100.00. Following the completion of the transaction, the executive vice president now directly owns 28,078 shares in the company, valued at $7,659,959.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Amgen Inc acquired 1,764,705 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was acquired at an average price of $17.00 per share, with a total value of $29,999,985.00. Following the completion of the transaction, the insider now directly owns 35,368,653 shares of the company’s stock, valued at approximately $601,267,101. The disclosure for this purchase can be found here. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. HSBC assumed coverage on Amgen in a report on Wednesday, September 6th. They issued a “buy” rating and a $320.00 price objective for the company. Wells Fargo & Company boosted their price objective on Amgen from $265.00 to $320.00 in a report on Thursday, October 12th. Truist Financial raised Amgen from a “hold” rating to a “buy” rating and boosted their price objective for the company from $260.00 to $320.00 in a report on Thursday, November 2nd. Leerink Partnrs raised Amgen from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 11th. Finally, SVB Leerink raised Amgen from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $267.00 to $318.00 in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Hold” and an average target price of $278.15.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.