Financial Advocates Investment Management Sells 5,431 Shares of Amgen Inc. $AMGN

Financial Advocates Investment Management lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 65.5% during the second quarter, HoldingsChannel reports. The firm owned 2,865 shares of the medical research company’s stock after selling 5,431 shares during the quarter. Financial Advocates Investment Management’s holdings in Amgen were worth $800,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AMGN. Vanguard Group Inc. grew its position in Amgen by 1.6% in the second quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after acquiring an additional 841,117 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Amgen by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock valued at $3,619,489,000 after purchasing an additional 291,271 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Amgen by 5.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock valued at $3,600,043,000 after purchasing an additional 687,735 shares in the last quarter. Laurel Wealth Advisors LLC grew its holdings in shares of Amgen by 27,765.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after purchasing an additional 6,676,575 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Amgen by 6.0% during the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock worth $1,521,339,000 after purchasing an additional 274,488 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity

In other news, SVP Rachna Khosla sold 890 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the sale, the senior vice president directly owned 7,082 shares in the company, valued at $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares in the company, valued at approximately $14,120,924.09. The trade was a 14.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 10,908 shares of company stock valued at $3,674,966. 0.76% of the stock is currently owned by insiders.

Amgen Stock Up 1.0%

Shares of AMGN opened at $344.57 on Thursday. The stock’s 50-day moving average price is $304.95 and its two-hundred day moving average price is $293.90. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $345.84. The company has a market capitalization of $185.54 billion, a PE ratio of 28.17, a PEG ratio of 2.61 and a beta of 0.45. 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 issued its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a $2.38 dividend. The ex-dividend date is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.8%. Amgen’s payout ratio is 73.57%.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of research analyst reports. Cantor Fitzgerald raised their target price on shares of Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Guggenheim increased their price target on Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Daiwa Capital Markets boosted their price objective on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Citigroup upped their target price on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Finally, Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Amgen presently has an average rating of “Hold” and an average target price of $333.74.

About Amgen

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.