Blue Trust Inc. Cuts Position in Amgen Inc. $AMGN

Blue Trust Inc. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 18.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,281 shares of the medical research company’s stock after selling 527 shares during the period. Blue Trust Inc.’s holdings in Amgen were worth $637,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMGN. OLD National Bancorp IN lifted its stake 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 worth $5,027,000 after purchasing an additional 13,460 shares during the last quarter. KPP Advisory Services LLC grew its stake 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 valued at $1,817,000 after buying an additional 2,716 shares during the last quarter. Advisor Resource Council purchased a new position in shares of Amgen in the first quarter worth about $1,331,000. Trinity Legacy Partners LLC lifted its stake in shares of Amgen by 3.9% in 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 during the last quarter. Finally, DLK Investment Management LLC lifted its stake in shares of Amgen by 7.3% in the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after acquiring an additional 1,387 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Down 1.8%

Shares of AMGN opened at $290.13 on Monday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The firm’s 50-day moving average price is $286.77 and its 200-day moving average price is $287.43. The firm has a market capitalization of $156.19 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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. The business had revenue of $9.18 billion during 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 quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

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

Analysts Set New Price Targets

AMGN has been the topic of several recent research reports. Cantor Fitzgerald restated a “neutral” rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. UBS Group dropped their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Bank of America lifted their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Morgan Stanley upped their price target on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Finally, Raymond James Financial began coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $309.42.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction 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 completion of the transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.69% of the stock is currently owned by insiders.

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.