Amgen Inc. $AMGN Shares Sold by Means Investment CO. Inc.

Means Investment CO. Inc. reduced its position in Amgen Inc. (NASDAQ:AMGN) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,295 shares of the medical research company’s stock after selling 42 shares during the quarter. Means Investment CO. Inc.’s holdings in Amgen were worth $641,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new position in Amgen during the 1st quarter valued at about $25,000. First Pacific Financial grew its stake in shares of 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 acquiring an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in shares of 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 valued at $29,000 after acquiring an additional 85 shares in the last quarter. Activest Wealth Management raised its position 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. raised its position 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 purchasing an additional 122 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the topic of several research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Raymond James Financial began coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Piper Sandler raised 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. Finally, Morgan Stanley lifted their price target on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and an average target price of $309.42.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Amgen Stock Down 1.8%

NASDAQ:AMGN opened at $290.13 on Friday. 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 company’s fifty day moving average price is $286.77 and its 200-day moving average price is $287.55. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The firm has a market capitalization of $156.19 billion, a P/E ratio of 23.72, a PEG ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The company 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%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $4.97 earnings per share. 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 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is 77.84%.

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.