Amgen Inc. $AMGN Shares Sold by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,141 shares of the medical research company’s stock after selling 71 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in Amgen were worth $1,435,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMGN. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen in the first quarter worth about $25,000. CBIZ Investment Advisory Services LLC lifted its stake 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 worth $29,000 after acquiring an additional 85 shares in 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 acquiring an additional 103 shares in the last quarter. Nova Wealth Management Inc. lifted its stake in shares of Amgen by 12,200.0% in 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 in the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in Amgen during the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Raymond James Financial assumed coverage on Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. UBS Group cut their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Citigroup upped their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Finally, Bank of America upped their price objective on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Six 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $300.94.

Amgen Stock Down 0.4%

NASDAQ:AMGN opened at $291.76 on Friday. The firm has a market capitalization of $157.07 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49. The stock has a 50 day moving average of $287.92 and a 200-day moving average of $287.36. Amgen Inc. has a 52 week low of $253.30 and a 52 week 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 posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the prior year, the company earned $4.97 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued 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 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.