Amgen Inc. $AMGN Shares Sold by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 15.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,320 shares of the medical research company’s stock after selling 3,840 shares during the period. Amgen makes up approximately 1.3% of Alpine Woods Capital Investors LLC’s portfolio, making the stock its 19th biggest holding. Alpine Woods Capital Investors LLC’s holdings in Amgen were worth $5,734,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Wealth Preservation Advisors LLC bought a new stake in Amgen during the first quarter valued at $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC lifted its position 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 worth $29,000 after purchasing an additional 85 shares during the period. Evelyn Partners Investment Management LLP acquired a new position in Amgen during the second quarter worth about $32,000. Finally, Howard Hughes Medical Institute bought a new stake in shares of Amgen in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president directly owned 7,225 shares in the company, valued at $2,436,703.50. The trade was a 30.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were 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. Insiders have sold a total of 10,908 shares of company stock valued at $3,674,966 over the last three months. 0.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AMGN shares. Scotiabank initiated coverage on Amgen in a report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 target price for the company. Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. HSBC reiterated a “buy” rating and issued a $425.00 price objective on shares of Amgen in a research note on Wednesday, December 10th. Citigroup raised their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Amgen in a report on Monday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $332.85.

Amgen Stock Up 0.3%

Shares of AMGN stock opened at $332.50 on Thursday. Amgen Inc. has a 12 month low of $257.05 and a 12 month high of $346.38. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45. The firm has a market cap of $179.04 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 3.08 and a beta of 0.45. The stock has a 50 day moving average of $321.56 and a 200-day moving average of $301.12.

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

Amgen Increases Dividend

The business 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 $2.52 dividend. The ex-dividend date is Friday, February 13th. This is a boost from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a dividend yield of 3.0%. Amgen’s dividend payout ratio is 73.57%.

About Amgen

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.