Atlas Private Wealth Advisors Lowers Holdings in Amgen Inc. $AMGN

Atlas Private Wealth Advisors lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 51.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,397 shares of the medical research company’s stock after selling 2,525 shares during the quarter. Atlas Private Wealth Advisors’ holdings in Amgen were worth $677,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Amgen by 1.6% in the second quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock worth $14,996,807,000 after acquiring an additional 841,117 shares in the last quarter. State Street Corp grew its stake in shares of Amgen by 0.6% during the 2nd quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock worth $8,196,775,000 after purchasing an additional 177,035 shares during the period. Geode Capital Management LLC increased its holdings in shares of Amgen by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock valued at $3,619,489,000 after purchasing an additional 291,271 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Amgen by 5.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock valued at $3,600,043,000 after purchasing an additional 687,735 shares during the period. Finally, Laurel Wealth Advisors LLC boosted its holdings in Amgen by 27,765.8% during the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock worth $1,870,880,000 after buying an additional 6,676,575 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AMGN shares. Truist Financial lifted their price target on shares of Amgen from $318.00 to $319.00 and gave the company a “hold” rating in a research report on Thursday, January 8th. Scotiabank initiated coverage on Amgen in a report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price objective for the company. UBS Group upped their target price on Amgen from $380.00 to $390.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley dropped their price target on Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, December 12th. Finally, Guggenheim boosted 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $342.45.

Amgen Trading Down 0.3%

NASDAQ AMGN opened at $341.88 on Friday. The company has a market cap of $184.10 billion, a P/E ratio of 26.42, a P/E/G ratio of 3.02 and a beta of 0.45. Amgen Inc. has a 12 month low of $261.43 and a 12 month high of $353.25. 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 company has a 50-day moving average of $332.60 and a 200-day moving average of $309.22.

Amgen (NASDAQ:AMGN) last released its earnings results 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 net margin of 19.47% and a return on equity of 162.59%. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. During the same period last year, the company earned $5.58 earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities 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 given a $2.52 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date of this dividend is Friday, February 13th. This represents a $10.08 annualized dividend and a dividend yield of 2.9%. Amgen’s dividend payout ratio is 73.57%.

Insider Activity at Amgen

In related news, 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 value of $2,317,053.57. Following the transaction, the executive vice president owned 41,923 shares in the company, valued at approximately $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction dated 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 sale, the senior vice president owned 7,225 shares of the company’s stock, valued at $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 10,908 shares of company stock worth $3,674,966. 0.76% of the stock is owned by 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.