RNC Capital Management LLC Sells 175 Shares of Amgen Inc. $AMGN

RNC Capital Management LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,030 shares of the medical research company’s stock after selling 175 shares during the quarter. RNC Capital Management LLC’s holdings in Amgen were worth $846,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new position in Amgen during the first quarter valued at about $25,000. First Pacific Financial grew its position in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after buying an additional 67 shares during the period. CBIZ Investment Advisory Services LLC grew its position in Amgen by 1,214.3% during 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 period. Activest Wealth Management grew its position in Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after buying an additional 103 shares during the period. Finally, Nova Wealth Management Inc. grew 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 valued at $38,000 after buying an additional 122 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 1.7%

Shares of Amgen stock opened at $295.98 on Thursday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The company has a market cap of $159.34 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 2.66 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company’s 50-day moving average price is $287.97 and its 200-day moving average price is $287.21.

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

Amgen Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on AMGN. UBS Group reduced their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Sunday. Piper Sandler upped their price objective on shares of 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 shares of Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, Citigroup upped their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus price target of $300.94.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s 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 transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.76% of the company’s stock.

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.