Amgen Inc. $AMGN Shares Sold by Chemung Canal Trust Co.

Chemung Canal Trust Co. cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,308 shares of the medical research company’s stock after selling 106 shares during the quarter. Chemung Canal Trust Co.’s holdings in Amgen were worth $1,761,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new position in Amgen during the first quarter worth $25,000. First Pacific Financial raised its holdings in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after purchasing an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in Amgen by 1,214.3% during the first 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 last quarter. Activest Wealth Management raised its holdings in Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after purchasing an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. raised its holdings in Amgen by 12,200.0% during the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock worth $38,000 after purchasing an additional 122 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $297.89 on Friday. The firm has a market capitalization of $160.37 billion, a PE ratio of 24.36, a P/E/G ratio of 2.59 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 business has a 50-day moving average of $287.34 and a two-hundred day moving average of $288.17. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the prior year, the firm posted $4.97 earnings per share. The firm’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. As a group, research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen’s dividend payout ratio (DPR) is 77.84%.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of several research reports. UBS Group reduced their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Raymond James Financial assumed coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Citigroup boosted their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Seven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $309.70.

About Amgen

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.