Amgen Inc. $AMGN Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 964,835 shares of the medical research company’s stock after selling 14,804 shares during the period. Rhumbline Advisers’ holdings in Amgen were worth $269,391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen during the 1st quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen in the second quarter worth about $27,000. CBIZ Investment Advisory Services LLC boosted its position in 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 acquiring an additional 85 shares during the last quarter. Evelyn Partners Investment Management LLP acquired a new position in Amgen during the second quarter worth about $32,000. Finally, Activest Wealth Management grew its stake 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 acquiring an additional 103 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of Amgen stock opened at $337.54 on Friday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $345.84. The business’s fifty day simple moving average is $300.99 and its 200-day simple moving average is $292.31. The firm has a market cap of $181.76 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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. 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 quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the company earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared 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 is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.8%. Amgen’s dividend payout ratio (DPR) is currently 73.57%.

Analyst Ratings Changes

A number of research firms have weighed in on AMGN. The Goldman Sachs Group decreased their target price on shares of Amgen from $405.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Piper Sandler raised their target price on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. Finally, DZ Bank raised their price objective on shares of Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $319.90.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the transaction, the senior vice president directly owned 7,225 shares in the company, valued at $2,436,703.50. This trade represents a 30.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Rachna Khosla sold 890 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the sale, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. This trade represents a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 10,908 shares of company stock valued at $3,674,966. Company insiders own 0.76% of the company’s stock.

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.