Beacon Harbor Wealth Advisors Inc. Sells 2,484 Shares of Amgen Inc. $AMGN

Beacon Harbor Wealth Advisors Inc. trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 9.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,418 shares of the medical research company’s stock after selling 2,484 shares during the quarter. Amgen accounts for 1.7% of Beacon Harbor Wealth Advisors Inc.’s portfolio, making the stock its 23rd largest position. Beacon Harbor Wealth Advisors Inc.’s holdings in Amgen were worth $6,818,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen in the 1st quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new position in Amgen in the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after purchasing an additional 85 shares during the last quarter. Activest Wealth Management boosted its holdings in Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares during the period. Finally, Quaker Wealth Management LLC boosted its stake in shares of Amgen by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock valued at $34,000 after buying an additional 240 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on AMGN shares. Morgan Stanley decreased their target price on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Guggenheim lifted their price objective on shares of Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. DZ Bank upped their target price on Amgen from $335.00 to $364.00 in a research note on Monday, November 10th. Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Finally, Piper Sandler boosted their price target on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $314.05.

Amgen Stock Performance

Shares of Amgen stock opened at $336.74 on Friday. The company’s 50 day moving average price is $294.91 and its two-hundred day moving average price is $290.38. The firm has a market capitalization of $181.33 billion, a P/E ratio of 27.53, a P/E/G ratio of 2.61 and a beta of 0.45. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $345.84. 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 quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. During the same period in the prior year, the company earned $5.58 EPS. Amgen’s revenue was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s dividend payout ratio (DPR) is presently 73.57%.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the sale, the senior vice president directly owned 7,082 shares in the company, valued at $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 9,036 shares of company stock worth $2,992,594. 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.