As of the fourth quarter of 2023, Wealthsource Partners LLC has reported a significant decrease in its position in Amgen Inc. (NASDAQ:AMGN) following its most recent 13F filing with the Securities & Exchange Commission. The institutional investor sold around 1,484 shares of the medical research company’s stock, representing a 14.4% reduction in its holdings. Wealthsource Partners LLC’s investment in Amgen was valued at approximately $2,325,000 at the end of the quarter.
The news comes after Amgen released its quarterly earnings results on April 27th, revealing an EPS of $3.98 which surpassed analysts’ consensus estimates by $0.14 per share. The company exhibited a return on equity of 248.47% alongside a net margin of 30.23%. While it reported revenues worth $6.11 billion during the quarter, these were slightly lower than the consensus estimate of $6.18 billion for the period. This figure also represents a decline of about 2.1% compared to the same quarter last year when Amgen earned $4.25 EPS.
Amgen, Inc is primarily known as one of America’s leading biotechnology companies currently engaged in discovering, developing, manufacturing and distributing human therapeutics across several therapeutic areas like neurology and immunology among others via its Human Therapeutics segment operations.
Founded on April 8,1980 by William K.Bowes JR., Franklin Pitcher Johnson JR., George B.Rathmann and Joseph Rubinfeld; all visionaries with entrepreneurial dreams aimed at improving society’s healthcare system to make life easier and better while headquartered in Thousand Oaks California; Amgen has consistently been dedicated to delivering innovative products to meet patients’ needs throughout its existence.
Although analysts predict that Amgen will post an EPS value expected to be worth around $18/12 by year-end-this update provides investors with current insight into the company’s position, performance, and investments.
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Amgen, Inc.: A Biotech Industry Leader with a Strong and Growing Investor Base
Amgen, Inc.: A Biotech Giant with a Growing Investor Base
Amgen, Inc. is a biotechnology company that has been at the forefront of many medical advancements over the past few decades. Founded on April 8, 1980, by William K. Bowes Jr., Franklin Pitcher Johnson Jr., George B. Rathmann, and Joseph Rubinfeld in Thousand Oaks, California, Amgen has grown into a major force in the pharmaceutical industry.
Amgen’s primary focus is on human therapeutics and it operates through a Human Therapeutics segment. The company engages in the discovery, development, manufacture, and marketing of human therapeutics. It has an impressive market capitalization value of $119.23 billion as of May 20th, 2023, and a P/E ratio of 15.16 with an equally impressive 1-year target estimate price set at $250.94 per Bloomberg.com.
The company’s shares are publicly traded on NASDAQ under AMGN symbol and traded down $1.09 during mid-day trading on Friday to reach $223.14; this was accompanied by trading volume of 1,225,771 shares as compared to its average volume of 2.3 million shares approximately.
Moving onto Amgen’s investor base; institutional investors and hedge funds own approximately three-quarters (75.53%) of its company stocks as per recent reports from various sources such as Roundview Capital LLC which increased its stakes by 1.3 percent during Q1/2023 leading it to be the second-largest shareholder with nearly eight thousand four hundred shares worth over two million dollars along with Merit Financial Group LLC which boosted its holdings by around forty percent owning over two thousand shares valued at half a million dollars during Q1/2023.
In addition to these institutional investors were new entrants like Ergoteles LLC who purchased new stock positions in Amgen for almost two hundred and twenty thousand dollars, while First Western Trust Bank acquired shares worth over three hundred thousand dollars. Fuller & Thaler Asset Management also increased its holdings in Amgen by 2.1 percent driving the stake value to nearly six million dollars.
Amgen announced a quarterly dividend of $2.13 per share set to be payable on Thursday, June 8th, 2023, for the shareholders of record on Thursday, May 18th, 2023. As for the ex-dividend date is Wednesday, May 17th. This represents an $8.52 annualized dividend with a healthy yield of approx four percent approximately (3.82% – one decimal accuracy).
Although there have been some bearish sentiments among Wall Street analysts in recent months regarding AMGN stock due to projected lower-than-expected earnings growth compared to its current PEG ratio level – at roughly 1.77 per Bloomberg.com, investors remain bullish on Amgen’s long-term growth prospects.
In conclusion, it is evident that Amgen’s investor base has been growing consistently over time through institutional investors like hedge funds as well as individual investors who see tremendous potential in this biotech giant’s future despite all the fluctuations seen during some quarters or years – reinforcing that these stocks remain attractive investments for those seeking exposure to the healthcare industry.
