Amgen Inc. $AMGN Stock Position Decreased by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.1% during the second quarter, Holdings Channel reports. The firm owned 1,440 shares of the medical research company’s stock after selling 61 shares during the period. Palumbo Wealth Management LLC’s holdings in Amgen were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in AMGN. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen during the first quarter valued at $25,000. First Pacific Financial lifted its position in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in 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 purchasing an additional 85 shares during the period. Activest Wealth Management grew its position in Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after purchasing an additional 103 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new position in Amgen in the 4th quarter worth about $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $279.22 on Thursday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The firm has a market cap of $150.32 billion, a P/E ratio of 22.83, a PEG ratio of 2.49 and a beta of 0.49. The stock has a fifty day moving average price of $289.84 and a two-hundred day moving average price of $289.92. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

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

Amgen Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMGN shares. Piper Sandler boosted their price objective on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Morgan Stanley lifted their target price on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. UBS Group lowered their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Finally, Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $309.15.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the 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 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by 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.