Amgen Inc. $AMGN Shares Sold by Fiduciary Alliance LLC

Fiduciary Alliance LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 9.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 26,295 shares of the medical research company’s stock after selling 2,873 shares during the period. Fiduciary Alliance LLC’s holdings in Amgen were worth $7,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in AMGN. Wealth Preservation Advisors LLC acquired a new position in Amgen during the 1st quarter valued at about $25,000. First Pacific Financial increased its stake in shares of Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 67 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after buying an additional 85 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in shares of Amgen during the fourth quarter valued at approximately $26,000. Finally, Activest Wealth Management boosted its position in shares of Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after buying an additional 103 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMGN has been the topic of several analyst reports. Bank of America raised their target price on Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a research report on Wednesday, July 23rd. UBS Group lowered their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Citigroup boosted their price target on shares of Amgen from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Raymond James Financial assumed coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $304.43.

Amgen Stock Down 0.7%

Amgen stock opened at $274.40 on Tuesday. The firm has a market cap of $147.73 billion, a PE ratio of 22.44, a P/E/G ratio of 2.40 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The firm’s 50 day moving average price is $292.17 and its two-hundred day moving average price is $291.33. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the business posted $4.97 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.5%. Amgen’s payout ratio is 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.69% of the stock is currently owned by insiders.

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.