Amgen Inc. $AMGN Shares Sold by Pure Portfolios Holdings LLC

Pure Portfolios Holdings LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,021 shares of the medical research company’s stock after selling 44 shares during the quarter. Pure Portfolios Holdings LLC’s holdings in Amgen were worth $285,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairvoy Private Wealth LLC grew its holdings in Amgen by 1.1% during the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock worth $885,000 after acquiring an additional 35 shares in the last quarter. Crumly & Associates Inc. grew its stake in shares of Amgen by 3.2% during the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock worth $320,000 after purchasing an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. boosted its position in shares of Amgen by 5.2% during the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock worth $204,000 after acquiring an additional 36 shares in the last quarter. Affinity Capital Advisors LLC boosted its position in shares of Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock worth $246,000 after acquiring an additional 37 shares in the last quarter. Finally, Accredited Investors Inc. boosted its position in shares of Amgen by 1.7% during the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock worth $674,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AMGN shares. Piper Sandler upped their price objective on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Bank of America upped their target price on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Citigroup upped their target price on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Amgen in a research note on Saturday, September 27th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $309.42.

Amgen Stock Up 0.5%

Shares of NASDAQ:AMGN opened at $295.54 on Wednesday. The stock has a market cap of $159.11 billion, a P/E ratio of 24.17, a P/E/G ratio of 2.55 and a beta of 0.49. The firm has a fifty day moving average price of $287.04 and a 200 day moving average price of $287.88. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping 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 firm 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 business earned $4.97 EPS. Amgen’s quarterly 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. Sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Amgen 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.