Alpine Woods Capital Investors LLC Lowers Stock Holdings in Amgen Inc. $AMGN

Alpine Woods Capital Investors LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 4.3% in the 2nd quarter, Holdings Channel reports. The fund owned 24,160 shares of the medical research company’s stock after selling 1,093 shares during the period. Amgen makes up about 1.6% of Alpine Woods Capital Investors LLC’s investment portfolio, making the stock its 15th biggest position. Alpine Woods Capital Investors LLC’s holdings in Amgen were worth $6,746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OLD National Bancorp IN grew its stake in Amgen by 296.2% in the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after acquiring an additional 13,460 shares during the period. KPP Advisory Services LLC grew its stake in Amgen by 87.1% in the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock worth $1,817,000 after acquiring an additional 2,716 shares during the period. Advisor Resource Council purchased a new stake in Amgen in the 1st quarter worth approximately $1,331,000. Trinity Legacy Partners LLC grew its stake in Amgen by 3.9% in the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after acquiring an additional 612 shares during the period. Finally, DLK Investment Management LLC grew its stake in Amgen by 7.3% in the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock worth $6,384,000 after acquiring an additional 1,387 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMGN has been the subject of several recent analyst reports. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup boosted their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Raymond James Financial assumed coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Finally, Bank of America boosted their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $309.42.

Amgen Stock Up 0.8%

Shares of Amgen stock opened at $292.40 on Tuesday. The company has a fifty day moving average price of $286.58 and a 200 day moving average price of $287.33. 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 Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. The stock has a market cap of $157.42 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 18.96% and a return on equity of 174.71%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio is presently 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.69% of the stock is currently owned by insiders.

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.