Courier Capital LLC Lowers Stake in Amgen Inc. $AMGN

Courier Capital LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 15.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,293 shares of the medical research company’s stock after selling 2,512 shares during the quarter. Courier Capital LLC’s holdings in Amgen were worth $3,751,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AMGN. Wealth Quarterback LLC grew its stake in Amgen by 1.6% in the third quarter. Wealth Quarterback LLC now owns 2,210 shares of the medical research company’s stock valued at $624,000 after purchasing an additional 34 shares during the last quarter. Fairvoy Private Wealth LLC boosted its holdings in shares of Amgen by 1.1% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after buying an additional 35 shares in the last quarter. Nicholson Wealth Management Group LLC grew its position in shares of Amgen by 0.6% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock worth $1,652,000 after buying an additional 35 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of Amgen by 4.1% during the 3rd quarter. LS Investment Advisors LLC now owns 885 shares of the medical research company’s stock worth $250,000 after acquiring an additional 35 shares in the last quarter. Finally, Crown Wealth Group LLC raised its stake in shares of Amgen by 4.0% during the 3rd quarter. Crown Wealth Group LLC now owns 910 shares of the medical research company’s stock worth $257,000 after acquiring an additional 35 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were 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 owned 7,225 shares of the company’s stock, valued at $2,436,703.50. This trade represents a 30.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the sale, the senior vice president directly owned 7,082 shares in the company, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 10,908 shares of company stock valued at $3,674,966 over the last 90 days. Insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Morgan Stanley lowered their target price 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. Guggenheim raised their price objective on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Royal Bank Of Canada boosted their target price on Amgen from $330.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. The Goldman Sachs Group increased their price target on Amgen from $400.00 to $403.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Finally, Cantor Fitzgerald raised their price target on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $339.45.

Amgen Stock Performance

Shares of AMGN opened at $330.41 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 50-day moving average of $331.56 and a two-hundred day moving average of $306.19. The stock has a market cap of $177.92 billion, a P/E ratio of 25.53, a P/E/G ratio of 2.94 and a beta of 0.45. Amgen Inc. has a one year low of $261.43 and a one year high of $346.38.

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

Amgen Increases Dividend

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

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.