Baxter Bros Inc. Sells 200 Shares of Amgen Inc. $AMGN

Baxter Bros Inc. trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 8.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,296 shares of the medical research company’s stock after selling 200 shares during the period. Baxter Bros Inc.’s holdings in Amgen were worth $641,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its position in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares in the last quarter. GAMMA Investing LLC increased its position in Amgen by 40.2% during the 1st quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company’s stock valued at $3,662,000 after buying an additional 3,369 shares in the last quarter. Simplicity Wealth LLC acquired a new position in Amgen during the 1st quarter valued at about $390,000. Accurate Wealth Management LLC increased its position in Amgen by 3.9% during the 1st quarter. Accurate Wealth Management LLC now owns 2,935 shares of the medical research company’s stock valued at $839,000 after buying an additional 111 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Amgen by 348.5% during the 1st quarter. SG Americas Securities LLC now owns 47,798 shares of the medical research company’s stock valued at $14,891,000 after buying an additional 37,140 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction 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 $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is owned by insiders.

Amgen Stock Down 0.3%

Shares of AMGN opened at $294.62 on Thursday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. 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 company has a market capitalization of $158.61 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 2.57 and a beta of 0.49. The stock’s 50-day moving average price is $286.90 and its 200-day moving average price is $287.93.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The company 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%.Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen’s dividend payout ratio is presently 77.84%.

Analysts Set New Price Targets

Several analysts have weighed in on AMGN shares. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Citigroup boosted their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Finally, UBS Group lowered their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $309.42.

About Amgen

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.