Valley National Advisers Inc. Sells 343 Shares of Amgen Inc. $AMGN

Valley National Advisers Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 3.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,874 shares of the medical research company’s stock after selling 343 shares during the quarter. Valley National Advisers Inc.’s holdings in Amgen were worth $3,035,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMGN. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen in the first quarter valued at approximately $25,000. First Pacific Financial grew its position in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after acquiring an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its stake in shares of Amgen by 1,214.3% in 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 boosted 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 purchasing an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. lifted its stake in Amgen by 12,200.0% in the first 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 currently owned by institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $297.89 on Monday. 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 $160.37 billion, a P/E ratio of 24.36, a P/E/G ratio of 2.59 and a beta of 0.49. The company’s 50-day moving average is $287.34 and its 200 day moving average is $287.98. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating 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 business had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same period in the previous year, the firm posted $4.97 EPS. The business’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. On average, 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. Stockholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s payout ratio is 77.84%.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the 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 completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMGN. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Amgen in a report on Saturday, September 27th. Morgan Stanley increased their price objective on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Raymond James Financial initiated coverage on Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. Finally, Piper Sandler upped 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. Seven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently 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.