Amgen Inc. $AMGN Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 519,384 shares of the medical research company’s stock after selling 11,477 shares during the period. Corient Private Wealth LLC owned 0.10% of Amgen worth $145,018,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Wealth Preservation Advisors LLC acquired a new position in Amgen during the 1st quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC lifted its stake in Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after buying an additional 85 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in Amgen in the second quarter valued at $27,000. Activest Wealth Management boosted its holdings in shares of Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 103 shares during the period. Finally, Evelyn Partners Investment Management LLP bought a new position in shares of Amgen during the second quarter worth about $32,000. 76.50% of the stock is owned by institutional investors.

Amgen Trading Up 0.1%

Shares of NASDAQ:AMGN opened at $317.74 on Monday. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The stock has a market capitalization of $171.10 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 2.87 and a beta of 0.45. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.38. The company has a 50 day moving average price of $316.12 and a 200 day moving average price of $298.92.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be given a $2.52 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.2%. Amgen’s dividend payout ratio is 73.57%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Scotiabank initiated coverage on shares of Amgen in a research report on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 price objective on the stock. Truist Financial began coverage on shares of Amgen in a research note on Monday, November 24th. They issued a “hold” rating and a $318.00 price target on the stock. Piper Sandler boosted their price objective on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Guggenheim increased their price objective on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, BMO Capital Markets lifted their target price on Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $332.85.

Insider Activity at Amgen

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction dated 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 directly owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction that occurred 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 transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,908 shares of company stock worth $3,674,966 in the last quarter. 0.69% 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.