Amgen Inc. $AMGN Stake Lessened by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 4.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,214 shares of the medical research company’s stock after selling 647 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Amgen were worth $4,248,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Amgen by 0.3% in the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after acquiring an additional 148,658 shares during the last quarter. Royal Bank of Canada raised its position in 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 worth $1,521,339,000 after purchasing an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Amgen by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock worth $1,387,695,000 after purchasing an additional 243,306 shares in the last quarter. GAMMA Investing LLC grew its position in Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after purchasing an additional 3,653,205 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Amgen by 1.6% in the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock valued at $1,017,525,000 after buying an additional 52,734 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Citigroup increased their price objective on shares of Amgen from $305.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Cantor Fitzgerald restated a “neutral” rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Finally, Morgan Stanley upped their price target on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $304.43.

Amgen Stock Performance

AMGN stock opened at $285.41 on Friday. The company has a 50-day simple moving average of $290.57 and a 200 day simple moving average of $290.66. The company has a market capitalization of $153.65 billion, a P/E ratio of 23.34, a PEG ratio of 2.40 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter last year, the firm earned $4.97 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.76% of the stock is owned by company insiders.

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.