Brighton Jones LLC Trims Stock Position in Amgen Inc. $AMGN

Brighton Jones LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,785 shares of the medical research company’s stock after selling 215 shares during the quarter. Brighton Jones LLC’s holdings in Amgen were worth $8,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMGN. OLD National Bancorp IN grew its stake in shares of Amgen by 296.2% during the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after acquiring an additional 13,460 shares during the period. Trinity Legacy Partners LLC grew its stake in shares of Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after acquiring an additional 612 shares during the period. Founders Financial Alliance LLC grew its stake in shares of Amgen by 2.7% during the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after acquiring an additional 42 shares during the period. Stephens Inc. AR grew its stake in shares of Amgen by 14.2% during the 2nd quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after acquiring an additional 11,888 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Amgen by 2.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,397 shares of the medical research company’s stock valued at $86,423,000 after acquiring an additional 7,308 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.4%

AMGN stock opened at $291.76 on Friday. Amgen Inc. has a 1-year low of $253.30 and a 1-year 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. The company has a market capitalization of $157.07 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.52 and a beta of 0.49. The business has a 50 day simple moving average of $287.92 and a two-hundred day simple moving average of $287.36.

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, topping the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the company posted $4.97 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders 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 dividend yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio is currently 77.84%.

Analyst Ratings Changes

A number of research analysts recently issued reports on AMGN shares. Bank of America boosted their price objective on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Morgan Stanley boosted their price objective on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Amgen in a research note on Friday. Finally, Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Six 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 data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $300.94.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred 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 transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.76% of the company’s stock.

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.