Valley National Advisers Inc. Sells 343 Shares of Amgen Inc. $AMGN

Valley National Advisers Inc. trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,874 shares of the medical research company’s stock after selling 343 shares during the period. Valley National Advisers Inc.’s holdings in Amgen were worth $3,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Brighton Jones LLC lifted its holdings in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Impact Capital Partners LLC raised its stake in shares of Amgen by 4.3% during the 1st quarter. Impact Capital Partners LLC now owns 937 shares of the medical research company’s stock valued at $292,000 after buying an additional 39 shares during the last quarter. Congress Asset Management Co. increased its holdings in shares of Amgen by 0.8% during the 1st quarter. Congress Asset Management Co. now owns 62,909 shares of the medical research company’s stock valued at $19,599,000 after purchasing an additional 473 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Amgen by 4.5% in the 1st quarter. Sivia Capital Partners LLC now owns 1,072 shares of the medical research company’s stock valued at $334,000 after purchasing an additional 46 shares in the last quarter. Finally, Perennial Advisors LLC lifted its position in shares of Amgen by 2.8% during the 1st quarter. Perennial Advisors LLC now owns 19,671 shares of the medical research company’s stock valued at $6,128,000 after buying an additional 530 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.69% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $297.89 on Monday. The firm 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. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a fifty day moving average price of $287.34 and a two-hundred day moving average price of $287.98.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion for 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%.The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

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

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent research reports. Piper Sandler increased their target price on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Bank of America raised their target price on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Finally, Citigroup increased their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Seven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $309.70.

Amgen 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.