Flavin Financial Services Inc. Has $917,000 Position in Amgen Inc. $AMGN

Flavin Financial Services Inc. reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 9.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,286 shares of the medical research company’s stock after selling 325 shares during the quarter. Flavin Financial Services Inc.’s holdings in Amgen were worth $917,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. BKM Wealth Management LLC lifted its holdings in Amgen by 3.7% during the 2nd quarter. BKM Wealth Management LLC now owns 7,402 shares of the medical research company’s stock worth $2,067,000 after purchasing an additional 267 shares during the last quarter. MB Levis & Associates LLC lifted its holdings in Amgen by 2.8% during the 2nd quarter. MB Levis & Associates LLC now owns 3,800 shares of the medical research company’s stock worth $1,061,000 after purchasing an additional 104 shares during the last quarter. Dumont & Blake Investment Advisors LLC lifted its holdings in Amgen by 0.7% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 8,911 shares of the medical research company’s stock worth $2,488,000 after purchasing an additional 62 shares during the last quarter. DeDora Capital Inc. lifted its holdings in Amgen by 8.4% during the 2nd quarter. DeDora Capital Inc. now owns 6,427 shares of the medical research company’s stock worth $1,794,000 after purchasing an additional 498 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Amgen in the 2nd quarter valued at $11,501,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.76% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMGN. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Morgan Stanley lifted their price objective on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Piper Sandler lifted their price objective on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. UBS Group dropped their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Finally, Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Seven investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $305.50.

Amgen Stock Up 1.0%

Shares of NASDAQ:AMGN opened at $298.81 on Friday. The company has a market cap of $160.87 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 2.64 and a beta of 0.49. The firm’s 50-day simple moving average is $287.14 and its 200-day simple moving average is $287.15. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88.

Amgen (NASDAQ:AMGN) last issued its 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. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the previous year, the firm earned $4.97 earnings per share. The business’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. As a group, equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders 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 dividend payout ratio is 77.84%.

About Amgen

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.