Estabrook Capital Management Sells 220 Shares of Amgen Inc. $AMGN

Estabrook Capital Management lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,504 shares of the medical research company’s stock after selling 220 shares during the quarter. Estabrook Capital Management’s holdings in Amgen were worth $5,446,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMGN. Wealth Preservation Advisors LLC purchased a new position in Amgen in the 1st quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen in the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC grew its stake in Amgen by 1,214.3% in the 1st 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 in the last quarter. Evelyn Partners Investment Management LLP purchased a new position in shares of Amgen during the second quarter worth approximately $32,000. Finally, Activest Wealth Management raised its stake in shares of Amgen by 3,433.3% during the first 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 currently owned by institutional investors.

Amgen Trading Up 0.0%

Shares of NASDAQ AMGN opened at $344.65 on Friday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $345.84. The business has a fifty day moving average price of $307.51 and a 200 day moving average price of $294.91. The stock has a market capitalization of $185.59 billion, a P/E ratio of 28.18, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last announced its earnings results 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. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors 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 2.8%. Amgen’s dividend payout ratio is presently 73.57%.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the transaction, the senior vice president directly owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. The trade was a 30.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the transaction, the executive vice president directly owned 41,923 shares in the company, valued at approximately $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,908 shares of company stock worth $3,674,966 over the last three months. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research reports. Citigroup boosted their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Cantor Fitzgerald upped their target price on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Scotiabank began coverage on Amgen in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 price objective for the company. Finally, Wells Fargo & Company set a $400.00 target price on shares of Amgen in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $333.74.

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.