Praxis Investment Management Inc. Has $3.58 Million Stock Holdings in Amgen Inc. $AMGN

Praxis Investment Management Inc. lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,830 shares of the medical research company’s stock after selling 440 shares during the period. Praxis Investment Management Inc.’s holdings in Amgen were worth $3,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC raised its stake in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Amgen by 40.2% in the first quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company’s stock valued at $3,662,000 after purchasing an additional 3,369 shares during the last quarter. Inscription Capital LLC purchased a new stake in Amgen in the 1st quarter valued at about $348,000. Kingswood Wealth Advisors LLC increased its position in shares of Amgen by 2.3% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,524 shares of the medical research company’s stock valued at $1,096,000 after acquiring an additional 79 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC purchased a new stake in shares of Amgen during the first quarter valued at approximately $219,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMGN shares. Piper Sandler raised their target price on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. UBS Group reduced their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Finally, Raymond James Financial began coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen has an average rating of “Hold” and an average price target of $305.50.

Amgen Price Performance

AMGN stock opened at $295.81 on Friday. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The stock has a market cap of $159.25 billion, a PE ratio of 24.19, a P/E/G ratio of 2.63 and a beta of 0.49. The firm has a 50 day simple moving average of $286.93 and a two-hundred day simple moving average of $287.33.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the business earned $4.97 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio is presently 77.84%.

Amgen Company Profile

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.