Manchester Capital Management LLC Decreases Stock Holdings in Amgen Inc. $AMGN

Manchester Capital Management LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 12.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,661 shares of the medical research company’s stock after selling 840 shares during the period. Manchester Capital Management LLC’s holdings in Amgen were worth $1,581,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Vanguard Group Inc. boosted its stake in shares of Amgen by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock worth $14,996,807,000 after buying an additional 841,117 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Amgen by 2.3% in the second quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock valued at $3,619,489,000 after acquiring an additional 291,271 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Amgen by 5.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock valued at $3,600,043,000 after acquiring an additional 687,735 shares during the period. Laurel Wealth Advisors LLC grew its stake in shares of Amgen by 27,765.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after purchasing an additional 6,676,575 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Amgen by 6.0% during the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock valued at $1,521,339,000 after purchasing an additional 274,488 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of a number of research reports. HSBC upped their target price on shares of Amgen from $343.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. DZ Bank upped their price objective on Amgen from $335.00 to $364.00 in a research note on Monday, November 10th. Daiwa Capital Markets lifted their target price on Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. Citigroup boosted their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $325.62.

Amgen Trading Down 1.0%

Shares of AMGN stock opened at $334.30 on Tuesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $345.84. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market capitalization of $180.01 billion, a PE ratio of 27.33, a PEG ratio of 2.61 and a beta of 0.45. The stock has a fifty day simple moving average of $302.19 and a two-hundred day simple moving average of $293.02.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating the consensus estimate of $5.01 by $0.63. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same period in the previous year, the business earned $5.58 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

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

Insider Buying and Selling at Amgen

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This represents a 14.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rachna Khosla sold 890 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the transaction, the senior vice president directly owned 7,082 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders have sold 10,908 shares of company stock worth $3,674,966. Insiders own 0.76% 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.