Novem Group Sells 223 Shares of Amgen Inc. $AMGN

Novem Group cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 15.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,233 shares of the medical research company’s stock after selling 223 shares during the period. Novem Group’s holdings in Amgen were worth $344,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AMGN. Wealth Preservation Advisors LLC bought a new position in shares of Amgen in the 1st quarter worth about $25,000. First Pacific Financial grew its stake in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after buying an additional 67 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in shares of 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 valued at $29,000 after buying an additional 85 shares during the period. Activest Wealth Management grew its stake in shares of 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 buying an additional 103 shares during the period. Finally, Nova Wealth Management Inc. grew its stake in shares of Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after buying an additional 122 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Trading Up 0.7%

NASDAQ:AMGN opened at $272.98 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock has a market capitalization of $146.96 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 2.37 and a beta of 0.49. The firm’s 50 day moving average is $288.86 and its 200 day moving average is $289.06. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping 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 company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter in the previous year, the firm posted $4.97 EPS. Amgen’s revenue 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 expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.5%. Amgen’s payout ratio is presently 77.84%.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction 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 owned 7,209 shares of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.76% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on AMGN. Bank of America raised their target price on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday. Citigroup lifted their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday. Piper Sandler boosted their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Morgan Stanley boosted their target price on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $309.70.

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.