Woodmont Investment Counsel LLC Sells 205 Shares of Amgen Inc. $AMGN

Woodmont Investment Counsel LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 9.6% in the second quarter, Holdings Channel reports. The fund owned 1,930 shares of the medical research company’s stock after selling 205 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Amgen were worth $539,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. OLD National Bancorp IN boosted its position in Amgen by 296.2% in the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after buying an additional 13,460 shares in the last quarter. KPP Advisory Services LLC increased its holdings in shares of Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock worth $1,817,000 after buying an additional 2,716 shares in the last quarter. Advisor Resource Council bought a new position in shares of Amgen in the 1st quarter valued at $1,331,000. Trinity Legacy Partners LLC boosted its holdings in shares of Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after acquiring an additional 612 shares in the last quarter. Finally, DLK Investment Management LLC grew its position in Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock worth $6,384,000 after acquiring an additional 1,387 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Down 1.3%

NASDAQ:AMGN opened at $294.12 on Tuesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The firm’s fifty day moving average is $287.20 and its 200-day moving average is $287.83. The firm has a market cap of $158.34 billion, a P/E ratio of 24.05, a P/E/G ratio of 2.59 and a beta of 0.49.

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

Amgen Dividend Announcement

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

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on AMGN. UBS Group dropped their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Citigroup boosted their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Raymond James Financial assumed coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Finally, Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and a consensus target price of $309.42.

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.