Parcion Private Wealth LLC Sells 2,220 Shares of Amgen Inc. $AMGN

Parcion Private Wealth LLC decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,584 shares of the medical research company’s stock after selling 2,220 shares during the quarter. Parcion Private Wealth LLC’s holdings in Amgen were worth $8,349,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AMGN. Wealth Preservation Advisors LLC bought a new position in shares of Amgen in the first quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen in the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC boosted its stake in Amgen by 1,214.3% in 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 period. Howard Hughes Medical Institute purchased a new stake in Amgen during the 2nd quarter valued at approximately $32,000. Finally, Evelyn Partners Investment Management LLP purchased a new stake in Amgen during the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMGN shares. Guggenheim boosted their target price on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Bank of America increased their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Raymond James Financial initiated coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amgen in a report on Monday, December 15th. Finally, Piper Sandler raised their target price on shares of Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $332.85.

Insider Activity

In other news, SVP Rachna Khosla sold 890 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the sale, the senior vice president directly owned 7,082 shares in the company, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the sale, the executive vice president directly owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 10,908 shares of company stock valued at $3,674,966. 0.69% of the stock is currently owned by insiders.

Amgen Stock Up 1.2%

NASDAQ AMGN opened at $331.39 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45. Amgen Inc. has a 52 week low of $257.05 and a 52 week high of $346.38. The firm has a market capitalization of $178.45 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 3.11 and a beta of 0.45. The company has a fifty day moving average of $320.10 and a two-hundred day moving average of $300.60.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.63. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter in the prior year, the firm posted $5.58 earnings per share. The business’s revenue for the quarter 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 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 3.0%. This is a boost from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. Amgen’s dividend payout ratio (DPR) is presently 73.57%.

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.