Rovin Capital UT ADV Decreases Stake in Amgen Inc. $AMGN

Rovin Capital UT ADV lowered its position in Amgen Inc. (NASDAQ:AMGN) by 20.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,524 shares of the medical research company’s stock after selling 399 shares during the quarter. Rovin Capital UT ADV’s holdings in Amgen were worth $426,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Abel Hall LLC acquired a new stake in Amgen during the 1st quarter worth $232,000. Axxcess Wealth Management LLC lifted its position in Amgen by 12.1% during the 1st quarter. Axxcess Wealth Management LLC now owns 11,792 shares of the medical research company’s stock worth $3,674,000 after acquiring an additional 1,276 shares during the period. Quotient Wealth Partners LLC increased its holdings in shares of Amgen by 22.4% in the 1st quarter. Quotient Wealth Partners LLC now owns 2,216 shares of the medical research company’s stock valued at $690,000 after purchasing an additional 405 shares in the last quarter. Finally, Leavell Investment Management Inc. lifted its holdings in shares of Amgen by 1.0% in the first quarter. Leavell Investment Management Inc. now owns 18,064 shares of the medical research company’s stock valued at $5,628,000 after purchasing an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’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 transaction, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of analyst reports. Bank of America raised their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Piper Sandler reissued an “overweight” rating on shares of Amgen in a research report on Wednesday. Citigroup lifted their target price on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Cantor Fitzgerald increased their price target on Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Raymond James Financial started coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus price target of $308.83.

Amgen Price Performance

AMGN opened at $315.59 on Friday. The company has a market capitalization of $169.90 billion, a P/E ratio of 25.80, a PEG ratio of 2.61 and a beta of 0.45. The company has a 50-day moving average of $289.29 and a 200-day moving average of $288.18. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 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 the consensus estimate of $8.98 billion. During the same period in the prior year, the business earned $5.58 EPS. The firm’s revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be paid a $2.38 dividend. 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 presently 73.57%.

Amgen Company 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.