Biltmore Family Office LLC Sells 368 Shares of Amgen Inc. $AMGN

Biltmore Family Office LLC cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 13.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,375 shares of the medical research company’s stock after selling 368 shares during the quarter. Biltmore Family Office LLC’s holdings in Amgen were worth $663,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Wealth Preservation Advisors LLC bought a new position in Amgen in the first quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its stake in Amgen by 1,214.3% in the first 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 during the last quarter. Activest Wealth Management increased its stake in Amgen by 3,433.3% in the first 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 during the last quarter. Nova Wealth Management Inc. increased its stake in Amgen by 12,200.0% in the first 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 during the last quarter. Finally, Bayforest Capital Ltd bought a new position in Amgen in the first quarter valued at approximately $41,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday. Raymond James Financial assumed coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Morgan Stanley lifted their price objective on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Bank of America lifted their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Finally, UBS Group decreased their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $300.94.

Amgen Stock Performance

NASDAQ AMGN opened at $292.09 on Wednesday. The firm’s fifty day moving average price is $287.82 and its two-hundred day moving average price is $287.41. The stock has a market cap of $157.25 billion, a PE ratio of 23.88, a PEG ratio of 2.60 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. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

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. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued 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 payout ratio is 77.84%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction 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 transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was 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. Company insiders own 0.69% of the company’s stock.

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.