Carl P. Sherr & Co. LLC Trims Stock Position in Amgen Inc. $AMGN

Carl P. Sherr & Co. LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 4.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,037 shares of the medical research company’s stock after selling 150 shares during the period. Carl P. Sherr & Co. LLC’s holdings in Amgen were worth $848,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new position in Amgen in the first quarter valued at $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after purchasing an additional 85 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at about $27,000. Activest Wealth Management boosted its position in shares of Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares during the period. Finally, Quaker Wealth Management LLC boosted its position 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 valued at $34,000 after purchasing an additional 240 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Amgen stock opened at $336.74 on Friday. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The business has a 50 day simple moving average of $294.91 and a 200-day simple moving average of $290.38. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $345.84. The stock has a market capitalization of $181.33 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45.

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

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 annualized dividend and a dividend yield of 2.8%. Amgen’s payout ratio is presently 73.57%.

Insider Transactions at Amgen

In other news, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the transaction, the executive vice president directly owned 41,923 shares in the company, valued at $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,036 shares of company stock worth $2,992,594 over the last ninety days. 0.69% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on AMGN. DZ Bank lifted their price target on Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Guggenheim lifted their target price on shares of Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Piper Sandler increased their price target on shares of Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Raymond James Financial began coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Amgen currently has an average rating of “Hold” and an average price target of $314.05.

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.