BIP Wealth LLC Reduces Stock Holdings in Amgen Inc. $AMGN

BIP Wealth LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 27.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,160 shares of the medical research company’s stock after selling 445 shares during the quarter. BIP Wealth LLC’s holdings in Amgen were worth $324,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new stake in Amgen during the first quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after acquiring an additional 85 shares during the last quarter. Activest Wealth Management grew its position in shares of Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 103 shares during the period. Nova Wealth Management Inc. grew its position in shares of Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 122 shares during the period. Finally, Bayforest Capital Ltd purchased a new stake in shares of Amgen in the 1st quarter worth $41,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.4%

Shares of AMGN opened at $291.76 on Friday. The business’s 50 day moving average is $287.92 and its 200 day moving average is $287.36. The company has a market capitalization of $157.07 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month 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.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the company posted $4.97 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued 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 77.84%.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AMGN shares. Morgan Stanley lifted their target price on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Raymond James Financial began coverage on Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating on the stock. UBS Group cut 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. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. Finally, Bank of America lifted their price target on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $300.94.

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.