Ellevest Inc. Cuts Position in Amgen Inc. $AMGN

Ellevest Inc. lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 24.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,066 shares of the medical research company’s stock after selling 660 shares during the quarter. Ellevest Inc.’s holdings in Amgen were worth $577,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new position in Amgen during the 1st quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC grew its holdings in 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 valued at $29,000 after buying an additional 85 shares in the last quarter. Activest Wealth Management grew its holdings in 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 buying an additional 103 shares in the last quarter. Quaker Wealth Management LLC boosted its holdings in shares of Amgen by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after purchasing an additional 240 shares during the period. Finally, Nova Wealth Management Inc. boosted its holdings 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 worth $38,000 after purchasing an additional 122 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN stock opened at $319.86 on Thursday. 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 has a market capitalization of $172.20 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.61 and a beta of 0.45. The stock has a 50 day moving average price of $288.69 and a 200 day moving average price of $287.99.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same period last year, the company earned $5.58 EPS. Amgen’s quarterly revenue was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a yield of 3.0%. Amgen’s payout ratio is 73.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Piper Sandler reiterated an “overweight” rating on shares of Amgen in a report on Wednesday. UBS Group dropped 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. Morgan Stanley dropped their target price on Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Bank of America lifted their target price on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $307.33.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction 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 sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by company 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.