Amgen Inc. $AMGN Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,737 shares of the medical research company’s stock after selling 197 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Amgen were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Willner & Heller LLC lifted its stake in shares of Amgen by 2.1% during the second quarter. Willner & Heller LLC now owns 3,050 shares of the medical research company’s stock worth $852,000 after buying an additional 64 shares during the period. Oak Hill Wealth Advisors LLC lifted its stake in shares of Amgen by 1.7% during the second quarter. Oak Hill Wealth Advisors LLC now owns 2,450 shares of the medical research company’s stock worth $728,000 after buying an additional 40 shares during the period. Penobscot Investment Management Company Inc. lifted its position in Amgen by 4.1% during the second quarter. Penobscot Investment Management Company Inc. now owns 16,705 shares of the medical research company’s stock valued at $4,664,000 after purchasing an additional 663 shares during the period. Wells Trecaso Financial Group LLC lifted its position in Amgen by 18.3% during the second quarter. Wells Trecaso Financial Group LLC now owns 2,669 shares of the medical research company’s stock valued at $745,000 after purchasing an additional 412 shares during the period. Finally, AMF Tjanstepension AB lifted its position in Amgen by 91.2% during the second quarter. AMF Tjanstepension AB now owns 156,117 shares of the medical research company’s stock valued at $43,615,000 after purchasing an additional 74,472 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by company insiders.

Amgen Stock Up 0.2%

Shares of NASDAQ AMGN opened at $297.89 on Friday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The stock has a market cap of $160.37 billion, a PE ratio of 24.36, a P/E/G ratio of 2.59 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company has a 50-day moving average of $287.34 and a 200 day moving average of $288.17.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $8.86 billion. During the same quarter in the prior year, the company earned $4.97 EPS. Amgen’s revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen’s dividend payout ratio is 77.84%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AMGN shares. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday. Citigroup boosted their target price on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Piper Sandler boosted their target price on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. Cantor Fitzgerald restated a “neutral” rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Finally, Bank of America boosted their target price on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Seven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus target price of $309.70.

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.