Amgen Inc. $AMGN Position Reduced by Morey & Quinn Wealth Partners LLC

Morey & Quinn Wealth Partners LLC decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 10.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,283 shares of the medical research company’s stock after selling 156 shares during the period. Morey & Quinn Wealth Partners LLC’s holdings in Amgen were worth $358,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new stake in Amgen during the first quarter worth approximately $25,000. First Pacific Financial raised its holdings in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after purchasing an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its holdings 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 worth $29,000 after purchasing an additional 85 shares in the last quarter. Activest Wealth Management raised its holdings in Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. raised its holdings 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 worth $38,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.3%

NASDAQ AMGN opened at $294.62 on Thursday. Amgen Inc. has a twelve month low of $253.30 and a twelve month 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 market cap of $158.61 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 2.57 and a beta of 0.49. The firm’s 50 day moving average price is $286.90 and its two-hundred day moving average price is $287.93.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $8.86 billion. During the same period in the previous year, the company posted $4.97 EPS. The company’s quarterly 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. Equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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

Insider Activity 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 transaction of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.76% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AMGN. Morgan Stanley upped their price target on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Bank of America upped their price target on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Amgen currently has an average rating of “Hold” and a consensus target price of $309.42.

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.