Freedom Investment Management Inc. Reduces Holdings in Amgen Inc. $AMGN

Freedom Investment Management Inc. decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.5% during the second quarter, Holdings Channel.com reports. The fund owned 5,321 shares of the medical research company’s stock after selling 193 shares during the period. Freedom Investment Management Inc.’s holdings in Amgen were worth $1,486,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AMGN. Brighton Jones LLC grew its stake in shares of Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Amgen by 40.2% during the first quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company’s stock worth $3,662,000 after purchasing an additional 3,369 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Amgen during the first quarter worth about $276,000. First Pacific Financial lifted its holdings 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 purchasing an additional 67 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Amgen by 165.9% during the first quarter. Golden State Wealth Management LLC now owns 4,871 shares of the medical research company’s stock worth $1,518,000 after purchasing an additional 3,039 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 1.0%

Shares of NASDAQ:AMGN opened at $292.89 on Friday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The company has a market capitalization of $157.68 billion, a PE ratio of 23.95, a PEG ratio of 2.62 and a beta of 0.49. The business has a 50 day moving average of $288.02 and a two-hundred day moving average of $287.23. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $8.86 billion. During the same period in the previous year, the company posted $4.97 earnings per share. Amgen’s revenue for the quarter 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, analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

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

Analyst Ratings Changes

AMGN has been the subject of a number of research reports. Piper Sandler lifted their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. Raymond James Financial initiated coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. Finally, Morgan Stanley lifted their target price on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $300.94.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company’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 transaction of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.76% of the stock is currently owned by insiders.

Amgen 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.