McGuire Investment Group LLC Decreases Stake in Amgen Inc. $AMGN

McGuire Investment Group LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,372 shares of the medical research company’s stock after selling 214 shares during the quarter. McGuire Investment Group LLC’s holdings in Amgen were worth $3,734,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Warren Street Wealth Advisors LLC raised its position in shares of Amgen by 506.7% in the 2nd quarter. Warren Street Wealth Advisors LLC now owns 5,594 shares of the medical research company’s stock valued at $1,562,000 after purchasing an additional 4,672 shares during the last quarter. Naples Global Advisors LLC raised its position in shares of Amgen by 2.1% in the 2nd quarter. Naples Global Advisors LLC now owns 35,186 shares of the medical research company’s stock valued at $9,824,000 after purchasing an additional 711 shares during the last quarter. Parsons Capital Management Inc. RI raised its position in Amgen by 1.0% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 21,565 shares of the medical research company’s stock worth $6,021,000 after buying an additional 215 shares during the last quarter. Pure Financial Advisors LLC raised its position in Amgen by 15.6% during the 2nd quarter. Pure Financial Advisors LLC now owns 4,822 shares of the medical research company’s stock worth $1,346,000 after buying an additional 652 shares during the last quarter. Finally, Woodward Diversified Capital LLC raised its position in Amgen by 2.9% during the 2nd quarter. Woodward Diversified Capital LLC now owns 6,196 shares of the medical research company’s stock worth $1,730,000 after buying an additional 173 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 document filed with the SEC, which is available through this hyperlink. 0.76% of the stock is currently owned by company insiders.

Amgen Price Performance

Amgen stock opened at $298.50 on Thursday. The company’s fifty day moving average price is $287.74 and its 200 day moving average price is $288.64. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The stock has a market capitalization of $160.70 billion, a P/E ratio of 24.41, a P/E/G ratio of 2.45 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results 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 net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter last year, the company earned $4.97 EPS. The firm’s revenue for the quarter 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, equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s payout ratio is 77.84%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. UBS Group reduced their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. 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 report 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. Morgan Stanley upped 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. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and an average price target of $309.70.

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.