Cerity Partners LLC Sells 6,837 Shares of Amgen Inc. $AMGN

Cerity Partners LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 416,182 shares of the medical research company’s stock after selling 6,837 shares during the period. Cerity Partners LLC owned about 0.08% of Amgen worth $117,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. OLD National Bancorp IN increased its stake in Amgen by 296.2% in the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after purchasing an additional 13,460 shares in the last quarter. Atlantic Union Bankshares Corp increased its position in 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 buying an additional 6,627 shares in the last quarter. D.A. Davidson & CO. raised its stake in Amgen by 2.6% during the 3rd quarter. D.A. Davidson & CO. now owns 243,054 shares of the medical research company’s stock worth $68,590,000 after buying an additional 6,222 shares during the period. Davis Capital Management bought a new position in Amgen in the third quarter worth approximately $1,841,000. Finally, L2 Asset Management LLC grew its stake in 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. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 3,139 shares of Amgen 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the stock in a transaction dated 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 owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 10,908 shares of company stock valued at $3,674,966. Insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMGN. Erste Group Bank raised Amgen from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Morgan Stanley decreased their price target on shares of Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, December 12th. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 15th. Wells Fargo & Company boosted their target price on shares of Amgen from $300.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $338.50.

Amgen Stock Performance

Shares of AMGN stock opened at $330.17 on Wednesday. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99. The firm has a 50-day moving average of $327.43 and a 200-day moving average of $303.48. Amgen Inc. has a one year low of $259.35 and a one year high of $346.38. The company has a market cap of $177.79 billion, a P/E ratio of 25.52, a P/E/G ratio of 2.92 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. During the same period in the prior year, the firm posted $5.58 EPS. The firm’s quarterly 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. Equities research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be issued a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a yield of 3.1%. This is an increase from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. Amgen’s dividend payout ratio is 73.57%.

Amgen 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.