Byrne Asset Management LLC Sells 111 Shares of Amgen Inc. $AMGN

Byrne Asset Management LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 9.8% in the second quarter, Holdings Channel.com reports. The fund owned 1,022 shares of the medical research company’s stock after selling 111 shares during the period. Byrne Asset Management LLC’s holdings in Amgen were worth $285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Continuum Advisory LLC raised its stake in shares of Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after acquiring an additional 35 shares during the period. Octavia Wealth Advisors LLC raised its stake in shares of Amgen by 1.5% in the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock valued at $759,000 after acquiring an additional 35 shares during the period. Crumly & Associates Inc. raised its stake in shares of Amgen by 3.2% in the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after acquiring an additional 36 shares during the period. Affinity Capital Advisors LLC raised its stake in shares of Amgen by 4.5% in the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock valued at $246,000 after acquiring an additional 37 shares during the period. Finally, Accredited Investors Inc. raised its stake in shares of Amgen by 1.7% in the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock valued at $674,000 after acquiring an additional 37 shares during the period. Institutional investors own 76.50% of the company’s stock.

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 dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AMGN shares. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Piper Sandler raised their price target on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. Guggenheim started coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price of $304.43.

Amgen Stock Down 0.7%

Shares of Amgen stock opened at $274.40 on Tuesday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17. The stock has a market cap of $147.73 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 2.40 and a beta of 0.49. 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 firm’s 50-day moving average is $292.17 and its two-hundred day moving average is $291.33.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same period last year, the business earned $4.97 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, research analysts expect 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 was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

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.