Alteri Wealth LLC Cuts Holdings in Amgen Inc. $AMGN

Alteri Wealth LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,648 shares of the medical research company’s stock after selling 266 shares during the quarter. Amgen comprises about 1.3% of Alteri Wealth LLC’s investment portfolio, making the stock its 13th biggest position. Alteri Wealth LLC’s holdings in Amgen were worth $3,252,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OLD National Bancorp IN increased its stake 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 worth $5,027,000 after acquiring an additional 13,460 shares during the last quarter. Atlantic Union Bankshares Corp lifted its stake in shares of Amgen by 165.0% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock valued at $2,972,000 after purchasing an additional 6,627 shares during the last quarter. Trinity Legacy Partners LLC boosted its holdings in shares of Amgen by 3.9% in the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after purchasing an additional 612 shares during the period. Founders Financial Alliance LLC increased its position in shares of Amgen by 2.7% during the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after purchasing an additional 42 shares during the last quarter. Finally, Stephens Inc. AR raised its holdings in Amgen by 14.2% during the 2nd quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after buying an additional 11,888 shares during the period. 76.50% of the stock is owned by institutional investors.

Insider Activity at Amgen

In other news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the transaction, the executive vice president directly owned 41,923 shares in the company, valued at approximately $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the transaction, the senior vice president directly owned 7,082 shares in the company, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.76% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on AMGN shares. Morgan Stanley dropped their price objective on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. DZ Bank raised their target price on shares of Amgen from $335.00 to $364.00 in a report on Monday, November 10th. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Cantor Fitzgerald increased their price objective on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Finally, Daiwa Capital Markets boosted their target price on Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and an average price target of $316.85.

Amgen Price Performance

AMGN opened at $343.99 on Wednesday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $345.84. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The business’s fifty day simple moving average is $297.43 and its 200-day simple moving average is $291.24. The company has a market capitalization of $185.23 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.63. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. During the same period in the previous year, the company posted $5.58 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be issued a $2.38 dividend. The ex-dividend date is Friday, November 21st. This represents a $9.52 annualized dividend and a dividend yield of 2.8%. Amgen’s payout ratio is currently 73.57%.

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.