Bartlett & CO. Wealth Management LLC Reduces Stock Position in Amgen Inc. $AMGN

Bartlett & CO. Wealth Management LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 345,401 shares of the medical research company’s stock after selling 7,343 shares during the period. Amgen accounts for 1.3% of Bartlett & CO. Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. Bartlett & CO. Wealth Management LLC owned approximately 0.06% of Amgen worth $97,473,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. OLD National Bancorp IN boosted its stake in Amgen by 296.2% in the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after purchasing an additional 13,460 shares during the period. Atlantic Union Bankshares Corp lifted its holdings in shares of Amgen by 165.0% in the second quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock worth $2,972,000 after buying an additional 6,627 shares in the last quarter. Trinity Legacy Partners LLC lifted its holdings in shares of 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 buying an additional 612 shares in the last quarter. L2 Asset Management LLC boosted its position in shares of Amgen by 50.8% in the second quarter. L2 Asset Management LLC now owns 9,837 shares of the medical research company’s stock valued at $2,747,000 after acquiring an additional 3,314 shares during the period. Finally, Stephens Inc. AR grew its stake in Amgen by 14.2% during the second quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after acquiring an additional 11,888 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the completion of the sale, the senior vice president owned 7,225 shares in the company, valued at approximately $2,436,703.50. This represents a 30.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the transaction, the senior vice president directly owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. This trade represents a 11.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 10,908 shares of company stock valued at $3,674,966. Company insiders own 0.76% of the company’s stock.

Amgen Stock Up 0.9%

NASDAQ AMGN opened at $327.38 on Friday. The stock’s 50-day moving average price is $319.32 and its 200-day moving average price is $300.13. The company has a market capitalization of $176.29 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 2.93 and a beta of 0.45. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45. Amgen Inc. has a 52 week low of $257.05 and a 52 week high of $346.38.

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

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be paid a dividend of $2.52 per share. 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 3.1%. Amgen’s dividend payout ratio is presently 73.57%.

Analyst Ratings Changes

Several analysts have issued reports on AMGN shares. Morgan Stanley lowered their target price on shares of Amgen from $329.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, December 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Amgen in a research note on Monday. Daiwa Capital Markets boosted their target price on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Piper Sandler raised their price target on Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Finally, Bank of America boosted their price objective on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $332.85.

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.