Buckley Wealth Management LLC Lowers Holdings in Amgen Inc. (NASDAQ:AMGN)

Buckley Wealth Management LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,765 shares of the medical research company’s stock after selling 115 shares during the quarter. Amgen comprises about 2.0% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. Buckley Wealth Management LLC’s holdings in Amgen were worth $5,942,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Tanglewood Legacy Advisors LLC purchased a new position in Amgen during the fourth quarter valued at $26,000. Ruedi Wealth Management Inc. purchased a new position in Amgen during the fourth quarter valued at $27,000. Strategic Investment Solutions Inc. IL purchased a new position in Amgen during the first quarter valued at $28,000. GW&K Investment Management LLC raised its stake in Amgen by 200.0% during the fourth quarter. GW&K Investment Management LLC now owns 120 shares of the medical research company’s stock valued at $32,000 after buying an additional 80 shares during the last quarter. Finally, General Partner Inc. purchased a new position in shares of Amgen in the first quarter worth $32,000. Hedge funds and other institutional investors own 74.44% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN traded up $1.87 during mid-day trading on Monday, hitting $262.59. 337,322 shares of the company traded hands, compared to its average volume of 2,451,053. The stock’s fifty day moving average price is $248.12 and its 200-day moving average price is $237.72. Amgen Inc. has a one year low of $211.71 and a one year high of $296.67. The company has a quick ratio of 2.48, a current ratio of 2.77 and a debt-to-equity ratio of 8.76. The firm has a market cap of $140.46 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 3.23 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $5.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.44 by $0.56. Amgen had a return on equity of 196.60% and a net margin of 30.02%. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the previous year, the company posted $4.65 earnings per share. Amgen’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts anticipate that Amgen Inc. will post 18.35 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were given a $2.13 dividend. The ex-dividend date was Thursday, August 17th. This represents a $8.52 annualized dividend and a dividend yield of 3.24%. Amgen’s payout ratio is 57.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMGN. Truist Financial restated a “hold” rating and issued a $260.00 price target on shares of Amgen in a research note on Tuesday, September 5th. HSBC began coverage on Amgen in a research note on Wednesday, September 6th. They issued a “buy” rating and a $320.00 price target for the company. Credit Suisse Group decreased their price target on Amgen from $220.00 to $200.00 in a research note on Wednesday, July 12th. Jefferies Financial Group boosted their price target on Amgen from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, Royal Bank of Canada boosted their price target on Amgen from $250.00 to $253.00 and gave the stock a “sector perform” rating in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $265.44.

Insider Activity

In other news, EVP Murdo Gordon sold 9,558 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $262.43, for a total value of $2,508,305.94. Following the transaction, the executive vice president now directly owns 44,308 shares in the company, valued at $11,627,748.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.46% of the company’s stock.

Amgen Company 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.