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

Joseph Group Capital Management grew its position in Amgen Inc. (NASDAQ:AMGN) by 17.0% in the 3rd quarter, according to its most recent disclosure with the 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 makes up about 1.2% of Joseph Group Capital Management’s investment portfolio, making the stock its 29th largest holding. Joseph Group Capital Management’s holdings in Amgen were worth $4,083,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMGN. Legacy Investment Solutions LLC purchased a new stake in Amgen during the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after buying an additional 85 shares during the last quarter. Evelyn Partners Investment Management LLP purchased a new position in shares of Amgen during the 2nd quarter worth $32,000. Howard Hughes Medical Institute bought a new stake in Amgen during the second quarter valued at about $32,000. Finally, Quaker Wealth Management LLC increased its holdings in Amgen by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after acquiring an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMGN. BMO Capital Markets upped their target price on shares of Amgen from $335.00 to $372.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Cantor Fitzgerald increased their price objective on shares of Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amgen in a report on Monday, December 29th. Erste Group Bank upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Finally, Truist Financial raised their price target on Amgen from $318.00 to $319.00 and gave the company a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus target price of $338.55.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value 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. The trade was a 14.10% decrease in their ownership of the stock. 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 ninety days. 0.76% of the stock is owned by company insiders.

Amgen Price Performance

NASDAQ:AMGN opened at $330.11 on Friday. The firm has a market capitalization of $177.76 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.11 and a beta of 0.45. 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 business has a 50 day simple moving average of $329.19 and a 200-day simple moving average of $303.93. Amgen Inc. has a 1 year low of $260.55 and a 1 year high of $346.38.

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, beating the consensus estimate of $5.01 by $0.63. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates 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. Equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be issued a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. Amgen’s payout ratio 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.