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

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 Stock Up 0.8 %

Shares of NASDAQ:AMGN traded up $2.15 on Thursday, reaching $264.21. The company had a trading volume of 2,421,394 shares, compared to its average volume of 3,120,276. The firm has a market capitalization of $142.02 billion, a PE ratio of 33.83, a PEG ratio of 2.91 and a beta of 0.56. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm’s 50 day simple moving average is $281.35 and its 200-day simple moving average is $309.46. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period last year, the firm earned $4.96 EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, analysts expect 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 dividend of $2.38 per share. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.60%. Amgen’s dividend payout ratio is currently 121.90%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMGN shares. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Truist Financial decreased their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. 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.com, Amgen has a consensus rating of “Hold” and an average price target of $317.30.

Hedge Funds Weigh In On Amgen

Several hedge funds and other institutional investors have recently modified their holdings of AMGN. Legacy Private Trust Co. boosted its stake in Amgen by 11.3% in the fourth quarter. Legacy Private Trust Co. now owns 7,716 shares of the medical research company’s stock valued at $2,011,000 after acquiring an additional 784 shares during the period. InvesTrust bought a new position in shares of Amgen in the fourth quarter valued at $267,000. Fulton Bank N.A. increased its position in shares of Amgen by 13.4% in the fourth quarter. Fulton Bank N.A. now owns 17,840 shares of the medical research company’s stock worth $4,650,000 after acquiring an additional 2,103 shares in the last quarter. Range Financial Group LLC raised its stake in Amgen by 515.0% during the 4th quarter. Range Financial Group LLC now owns 9,133 shares of the medical research company’s stock valued at $2,380,000 after purchasing an additional 7,648 shares during the period. Finally, Norway Savings Bank lifted its stake in Amgen by 4.2% in the 4th quarter. Norway Savings Bank now owns 3,966 shares of the medical research company’s stock worth $1,034,000 after acquiring an additional 160 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

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.

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.