Beacon Pointe Advisors LLC Sells 4,768 Shares of Amgen Inc. $AMGN

Beacon Pointe Advisors LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,981 shares of the medical research company’s stock after selling 4,768 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Amgen were worth $24,565,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its position in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after buying an additional 5,226 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Amgen by 48.9% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,254 shares of the medical research company’s stock valued at $391,000 after acquiring an additional 412 shares in the last quarter. Banco Santander S.A. boosted its position in shares of Amgen by 235.3% during the 1st quarter. Banco Santander S.A. now owns 8,720 shares of the medical research company’s stock valued at $2,717,000 after acquiring an additional 6,119 shares during the last quarter. MWA Asset Management grew its holdings in shares of Amgen by 19.2% during the first quarter. MWA Asset Management now owns 3,055 shares of the medical research company’s stock worth $952,000 after purchasing an additional 493 shares in the last quarter. Finally, Plan Group Financial LLC bought a new position in shares of Amgen in the first quarter worth approximately $420,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Amgen in a research report on Tuesday, November 25th. Truist Financial assumed coverage on shares of Amgen in a research report on Monday, November 24th. They set a “hold” rating and a $318.00 price objective on the stock. Bank of America upped their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. DZ Bank increased their target price on Amgen from $335.00 to $364.00 in a research note on Monday, November 10th. Finally, Scotiabank began coverage on Amgen in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $333.74.

Amgen Stock Performance

NASDAQ AMGN opened at $337.49 on Tuesday. The company has a 50-day simple moving average of $308.54 and a two-hundred day simple moving average of $295.60. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $345.84. The firm has a market cap of $181.73 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 2.61 and a beta of 0.45. 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 (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping the consensus estimate of $5.01 by $0.63. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s dividend payout ratio is 73.57%.

Insider Transactions at Amgen

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This represents a 14.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the sale, the senior vice president directly owned 7,225 shares in the company, valued at approximately $2,436,703.50. This trade represents a 30.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 10,908 shares of company stock worth $3,674,966. 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.