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 AMGN traded up $2.15 during mid-day trading on Thursday, hitting $264.21. The company’s stock had a trading volume of 2,421,394 shares, compared to its average volume of 3,120,276. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. 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 has a market capitalization of $142.02 billion, a price-to-earnings ratio of 33.83, a PEG ratio of 2.91 and a beta of 0.56. The company’s 50-day moving average is $281.35 and its 200-day moving average is $309.46.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The company 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%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.96 earnings per share. On average, equities research analysts forecast that Amgen Inc. will post 19.53 EPS 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 given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.60%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is 121.90%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMGN. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Sanford C. Bernstein assumed coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Finally, UBS Group decreased their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $317.30.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Swiss National Bank grew its stake in Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after acquiring an additional 5,500 shares during the period. Asset Advisors Investment Management LLC lifted its stake in Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after purchasing an additional 2,954 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after buying an additional 35,785 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares during the period. Finally, Napa Wealth Management purchased a new stake in shares of Amgen during the 3rd quarter valued at approximately $1,104,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

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.