Ignite Planners LLC Sells 44 Shares of Amgen Inc. $AMGN

Ignite Planners LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,229 shares of the medical research company’s stock after selling 44 shares during the quarter. Ignite Planners LLC’s holdings in Amgen were worth $657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. OLD National Bancorp IN boosted its position in Amgen by 296.2% during the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after purchasing an additional 13,460 shares in the last quarter. KPP Advisory Services LLC boosted its holdings in Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock worth $1,817,000 after acquiring an additional 2,716 shares in the last quarter. Advisor Resource Council acquired a new stake in Amgen in the first quarter worth about $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 worth $5,026,000 after acquiring an additional 612 shares in the last quarter. Finally, 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 worth $6,384,000 after acquiring an additional 1,387 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.3%

Amgen stock opened at $294.62 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The company has a market capitalization of $158.61 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 2.57 and a beta of 0.49. The stock has a 50-day moving average price of $286.90 and a 200 day moving average price of $287.93.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMGN. Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Piper Sandler raised their price target on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Cantor Fitzgerald reissued a “neutral” rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Citigroup raised their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Finally, Bank of America lifted their target price on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $309.42.

Insiders Place Their Bets

In related 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 transaction of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade 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 can be accessed through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

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.