Hendley & Co. Inc. Trims Stake in Amgen Inc. $AMGN

Hendley & Co. Inc. reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,479 shares of the medical research company’s stock after selling 50 shares during the quarter. Hendley & Co. Inc.’s holdings in Amgen were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of AMGN. Wealth Preservation Advisors LLC bought a new stake in Amgen during the 1st quarter valued at $25,000. First Pacific Financial boosted its position in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its position in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Activest Wealth Management boosted its position in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. boosted its position in Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 122 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Amgen in a research note on Saturday, September 27th. Morgan Stanley boosted their target price on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. UBS Group dropped their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Finally, Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus price target of $309.42.

Amgen Stock Up 0.5%

Amgen stock opened at $295.54 on Wednesday. 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 business’s 50-day simple moving average is $287.04 and its two-hundred day simple moving average is $287.88. The company has a market cap of $159.11 billion, a PE ratio of 24.17, a PEG ratio of 2.55 and a beta of 0.49. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88.

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

Amgen Announces Dividend

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

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business’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 completion of the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.69% of the stock is currently owned by company insiders.

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.