Ballentine Partners LLC Trims Holdings in Amgen Inc. $AMGN

Ballentine Partners LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 17.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,623 shares of the medical research company’s stock after selling 1,979 shares during the period. Ballentine Partners LLC’s holdings in Amgen were worth $2,715,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AMGN. Retirement Planning Co of New England Inc. grew its stake in Amgen by 8.5% during the third quarter. Retirement Planning Co of New England Inc. now owns 1,072 shares of the medical research company’s stock valued at $302,000 after acquiring an additional 84 shares in the last quarter. EPG Wealth Management LLC boosted its holdings in Amgen by 10.6% in the 3rd quarter. EPG Wealth Management LLC now owns 6,201 shares of the medical research company’s stock valued at $1,750,000 after purchasing an additional 595 shares during the period. Novare Capital Management LLC grew its position in shares of Amgen by 32.7% during the 3rd quarter. Novare Capital Management LLC now owns 1,299 shares of the medical research company’s stock valued at $367,000 after purchasing an additional 320 shares in the last quarter. Little House Capital LLC increased its holdings in shares of Amgen by 1.9% in the third quarter. Little House Capital LLC now owns 5,045 shares of the medical research company’s stock worth $1,424,000 after purchasing an additional 95 shares during the period. Finally, Principle Wealth Partners LLC raised its position in shares of Amgen by 2.1% in the third quarter. Principle Wealth Partners LLC now owns 31,008 shares of the medical research company’s stock worth $8,750,000 after buying an additional 650 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $342.22 on Thursday. The stock has a market cap of $184.28 billion, a PE ratio of 26.45, a PEG ratio of 3.11 and a beta of 0.45. The company’s fifty day moving average is $332.38 and its 200 day moving average is $308.67. Amgen Inc. has a 52 week low of $261.43 and a 52 week high of $353.25. 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 (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, beating analysts’ consensus estimates of $5.01 by $0.63. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be given 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 annualized dividend and a yield of 2.9%. Amgen’s dividend payout ratio is presently 73.57%.

Analysts Set New Price Targets

Several research firms recently commented on AMGN. Sanford C. Bernstein cut Amgen from an “outperform” rating to a “market perform” rating and set a $335.00 target price for the company. in a research report on Tuesday, January 20th. Guggenheim upped their price objective on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Argus raised their target price on shares of Amgen from $310.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, December 30th. DZ Bank boosted their price target on shares of Amgen from $335.00 to $364.00 in a research note on Monday, November 10th. Finally, Wells Fargo & Company raised their price objective on shares of Amgen from $300.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.71.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the transaction, the senior vice president 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Murdo Gordon sold 6,879 shares of Amgen stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the transaction, the executive vice president directly owned 41,923 shares in the company, valued at approximately $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 10,908 shares of company stock valued at $3,674,966. 0.69% of the stock is currently owned by company insiders.

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.