Cetera Investment Advisers Lowers Position in Amgen Inc. $AMGN

Cetera Investment Advisers lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 223,296 shares of the medical research company’s stock after selling 2,923 shares during the period. Cetera Investment Advisers’ holdings in Amgen were worth $62,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. OLD National Bancorp IN boosted its position in Amgen by 296.2% during the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after acquiring an additional 13,460 shares during the last quarter. Atlantic Union Bankshares Corp raised its position in Amgen by 165.0% in the second quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock valued at $2,972,000 after purchasing an additional 6,627 shares during the period. Trinity Legacy Partners LLC lifted its position in Amgen by 3.9% in the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after buying an additional 612 shares during the last quarter. Founders Financial Alliance LLC boosted its position in shares of Amgen by 2.7% during the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock worth $491,000 after purchasing an additional 42 shares during the period. Finally, Stephens Inc. AR grew its stake in shares of Amgen by 14.2% in the second quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after buying an additional 11,888 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMGN shares. UBS Group reduced their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Scotiabank began coverage on Amgen in a report on Thursday. They set a “sector outperform” rating and a $385.00 price objective on the stock. Piper Sandler lifted their target price on shares of Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a report on Friday. Guggenheim upped their price objective on Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $314.05.

Amgen Trading Up 0.2%

AMGN opened at $336.74 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $345.84. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The firm has a market capitalization of $181.33 billion, a P/E ratio of 27.53, a P/E/G ratio of 2.61 and a beta of 0.45. The firm’s 50 day moving average is $294.91 and its 200-day moving average is $290.40.

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

Amgen Dividend Announcement

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

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the transaction, the senior vice president owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. This represents a 11.16% 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. Also, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 9,036 shares of company stock worth $2,992,594. 0.76% of the stock is owned by corporate insiders.

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.