Rep. Virginia Foxx Buys Amgen Inc. (NASDAQ:AMGN) Stock

Representative Virginia Foxx (R-North Carolina) recently bought shares of Amgen Inc. (NASDAQ:AMGN). In a filing disclosed on January 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in Amgen stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 12/6/2024.
• Sold $50,001 – $100,000 in shares of Via Renewables (NASDAQ:VIASP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of American Electric Power (NASDAQ:AEP) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of FLEX LNG (NYSE:FLNG) on 12/6/2024.
• Sold $50,001 – $100,000 in shares of Pembina Pipeline (NYSE:PBA) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Bristol-Myers Squibb (NYSE:BMY) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Ardmore Shipping (NYSE:ASC) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Energy Transfer (NYSE:ET) on 12/6/2024.

Amgen Trading Up 0.8 %

NASDAQ:AMGN opened at $264.21 on Thursday. The business’s 50-day moving average is $281.35 and its two-hundred day moving average is $309.46. The firm has a market capitalization of $142.02 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.96 EPS. Research analysts predict that Amgen Inc. will post 19.53 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 121.90%.

Hedge Funds Weigh In On Amgen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC increased its position in Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after buying an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC grew its position in Amgen by 9,058.1% during the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after buying an additional 748,200 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Amgen by 40.7% during the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after buying an additional 676,598 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMGN. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Redburn Partners decreased their price objective on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Bank of America reaffirmed an “underperform” rating and set a $256.00 price target on shares of Amgen in a research report on Tuesday, December 10th. Piper Sandler lowered their price objective on Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Finally, TD Cowen upped their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and an average target price of $317.30.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

About Amgen

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.