Amgen Inc. $AMGN Shares Sold by Putney Financial Group LLC

Putney Financial Group LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 14.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 462 shares of the medical research company’s stock after selling 80 shares during the period. Putney Financial Group LLC’s holdings in Amgen were worth $129,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after acquiring an additional 5,226 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of Amgen by 5.5% in the first quarter. Golden State Wealth Management LLC now owns 1,933 shares of the medical research company’s stock worth $602,000 after buying an additional 101 shares during the last quarter. Kanawha Capital Management LLC lifted its holdings in Amgen by 7.2% in the first quarter. Kanawha Capital Management LLC now owns 984 shares of the medical research company’s stock valued at $307,000 after acquiring an additional 66 shares during the period. Novem Group boosted its position in Amgen by 15.8% in the 1st quarter. Novem Group now owns 1,456 shares of the medical research company’s stock worth $454,000 after purchasing an additional 199 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Amgen by 109.2% during the 1st quarter. First Horizon Advisors Inc. now owns 116,048 shares of the medical research company’s stock worth $36,155,000 after purchasing an additional 60,577 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 0.1%

AMGN opened at $292.00 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. The company’s 50 day simple moving average is $287.66 and its two-hundred day simple moving average is $287.48. The firm has a market capitalization of $157.20 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88.

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, beating the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction 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 $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMGN. Morgan Stanley raised their target price on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Bank of America raised their price objective on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Raymond James Financial assumed coverage on Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Piper Sandler lifted their price target on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. Finally, Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average price target of $300.94.

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.