Ballentine Partners LLC Sells 2,447 Shares of Amgen Inc. $AMGN

Ballentine Partners LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 17.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,602 shares of the medical research company’s stock after selling 2,447 shares during the quarter. Ballentine Partners LLC’s holdings in Amgen were worth $3,239,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AMGN. Wealth Preservation Advisors LLC purchased a new position in shares of Amgen during the first quarter valued at approximately $25,000. First Pacific Financial grew its position in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 67 shares during the period. CBIZ Investment Advisory Services LLC grew its position in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 85 shares during the period. Activest Wealth Management grew its position in shares of 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 during the period. Finally, Heck Capital Advisors LLC bought a new position in Amgen in the 4th quarter worth $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup upped their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday. UBS Group decreased their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Raymond James Financial initiated coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Morgan Stanley raised their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $309.15.

Amgen Trading Down 2.6%

NASDAQ AMGN opened at $279.22 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company has a fifty day simple moving average of $289.84 and a two-hundred day simple moving average of $289.92. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The stock has a market cap of $150.32 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.49 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter last year, the company posted $4.97 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. Amgen’s payout ratio is presently 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company’s stock.

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.