Meritage Portfolio Management Sells 213 Shares of Amgen Inc. $AMGN

Meritage Portfolio Management decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,477 shares of the medical research company’s stock after selling 213 shares during the period. Meritage Portfolio Management’s holdings in Amgen were worth $4,880,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new stake in Amgen during the first quarter valued at $25,000. First Pacific Financial raised its holdings in shares of Amgen by 304.5% during 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 purchasing an additional 85 shares during the period. Activest Wealth Management raised its holdings 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 valued at $33,000 after purchasing an additional 103 shares during the period. Finally, Nova Wealth Management Inc. raised its holdings in shares of Amgen by 12,200.0% during the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 122 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 1.8%

AMGN opened at $290.13 on Friday. 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 fifty-two week low of $253.30 and a fifty-two week high of $335.88. The firm has a market capitalization of $156.19 billion, a PE ratio of 23.72, a P/E/G ratio of 2.52 and a beta of 0.49. The company’s 50-day moving average is $286.77 and its 200 day moving average is $287.55.

Amgen (NASDAQ:AMGN) last posted its 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 company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the business posted $4.97 EPS. The firm’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, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 3.3%. Amgen’s dividend payout ratio (DPR) is 77.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMGN shares. Bank of America upped their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Raymond James Financial started coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Wall Street Zen lowered shares of Amgen from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Morgan Stanley upped their price objective on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $309.42.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.76% of the company’s stock.

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.