Amgen Inc. $AMGN Shares Sold by Archford Capital Strategies LLC

Archford Capital Strategies LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 22.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,196 shares of the medical research company’s stock after selling 619 shares during the quarter. Archford Capital Strategies LLC’s holdings in Amgen were worth $613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KPP Advisory Services LLC grew its position in shares of Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after purchasing an additional 2,716 shares during the period. Advisor Resource Council acquired a new position in Amgen in the first quarter valued at $1,331,000. Trinity Legacy Partners LLC boosted its holdings 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 acquiring an additional 612 shares during the last quarter. DLK Investment Management LLC boosted its holdings in Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Founders Financial Alliance LLC boosted its holdings in Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after acquiring an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.4%

Shares of Amgen stock opened at $273.97 on Tuesday. 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 cap of $147.49 billion, a P/E ratio of 22.40, a P/E/G ratio of 2.37 and a beta of 0.49. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The business has a 50-day moving average price of $288.42 and a 200 day moving average price of $288.61.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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 firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. UBS Group reduced their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Raymond James Financial started coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Finally, Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Seven 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $309.70.

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.