Sitrin Capital Management LLC Sells 2,678 Shares of Amgen Inc. $AMGN

Sitrin Capital Management LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 11.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,922 shares of the medical research company’s stock after selling 2,678 shares during the period. Amgen accounts for approximately 2.8% of Sitrin Capital Management LLC’s holdings, making the stock its 20th largest position. Sitrin Capital Management LLC’s holdings in Amgen were worth $5,562,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Amgen by 0.3% in the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock worth $16,471,790,000 after acquiring an additional 148,658 shares in the last quarter. Royal Bank of Canada grew its position in Amgen by 6.0% in the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock worth $1,521,339,000 after acquiring an additional 274,488 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Amgen by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock worth $1,387,695,000 after acquiring an additional 243,306 shares in the last quarter. Deutsche Bank AG grew its position in Amgen by 1.6% in the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock worth $1,017,525,000 after acquiring an additional 52,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Amgen by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock worth $940,989,000 after acquiring an additional 22,820 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Bank of America boosted their price objective on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Citigroup boosted their price objective on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Finally, William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $309.42.

Amgen Price Performance

NASDAQ:AMGN opened at $294.62 on Thursday. The stock has a market cap of $158.61 billion, a P/E ratio of 24.09, a PEG ratio of 2.57 and a beta of 0.49. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The company has a fifty day moving average price of $286.90 and a 200 day moving average price of $287.93. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS 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 analysts’ expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

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

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s 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 sale, the senior vice president owned 7,209 shares of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.76% of the stock is owned by company insiders.

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.