Sequoia Financial Advisors LLC Increases Position in Amgen Inc. $AMGN

Sequoia Financial Advisors LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 5.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 157,027 shares of the medical research company’s stock after buying an additional 7,966 shares during the period. Sequoia Financial Advisors LLC’s holdings in Amgen were worth $43,844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vest Financial LLC raised its holdings in shares of Amgen by 44.4% in the second quarter. Vest Financial LLC now owns 14,494 shares of the medical research company’s stock valued at $4,047,000 after buying an additional 4,456 shares during the last quarter. Lion Street Advisors LLC raised its holdings in shares of Amgen by 1.3% in the second quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock valued at $774,000 after buying an additional 36 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of Amgen by 2.9% in the second quarter. Hazlett Burt & Watson Inc. now owns 3,281 shares of the medical research company’s stock valued at $917,000 after buying an additional 92 shares during the last quarter. M3 Advisory Group LLC raised its holdings in shares of Amgen by 8.8% in the second quarter. M3 Advisory Group LLC now owns 831 shares of the medical research company’s stock valued at $232,000 after buying an additional 67 shares during the last quarter. Finally, SPC Financial Inc. raised its holdings in shares of Amgen by 3.5% in the second quarter. SPC Financial Inc. now owns 3,590 shares of the medical research company’s stock valued at $1,002,000 after buying an additional 121 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 1.8%

AMGN stock opened at $290.13 on Monday. The company’s 50 day simple moving average is $286.77 and its 200-day simple moving average is $287.43. 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. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. 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 (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the business earned $4.97 earnings per share. 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. Equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. Amgen’s dividend payout ratio (DPR) is 77.84%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. 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. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Piper Sandler upped their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Raymond James Financial began coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, UBS Group lowered their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $309.42.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.69% 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.