Amgen Inc. $AMGN Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% in the 2nd quarter, Holdings Channel reports. The firm owned 34,046 shares of the medical research company’s stock after selling 477 shares during the period. Cullinan Associates Inc.’s holdings in Amgen were worth $9,506,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new position in Amgen in the 1st quarter valued at $25,000. First Pacific Financial grew its holdings in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of 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 valued at $29,000 after buying an additional 85 shares during the last quarter. Activest Wealth Management lifted its stake in shares of Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after buying an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. boosted its position in Amgen by 12,200.0% during the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock worth $38,000 after acquiring an additional 122 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday. Piper Sandler increased their price target on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Amgen in a report on Saturday, September 27th. Finally, Bank of America lifted their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Seven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $309.70.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.69% of the stock is owned by company insiders.

Amgen Stock Up 0.2%

Shares of NASDAQ AMGN opened at $297.89 on Monday. The stock has a market cap of $160.37 billion, a P/E ratio of 24.36, a PEG ratio of 2.59 and a beta of 0.49. The business’s fifty day simple moving average is $287.34 and its 200-day simple moving average is $287.98. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s payout ratio is 77.84%.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.