Bristlecone Advisors LLC Sells 664 Shares of Amgen Inc. $AMGN

Bristlecone Advisors LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.7% during the second quarter, HoldingsChannel.com reports. The fund owned 17,094 shares of the medical research company’s stock after selling 664 shares during the period. Bristlecone Advisors LLC’s holdings in Amgen were worth $4,773,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC acquired a new position in Amgen in the first quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its holdings in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 85 shares in the last quarter. Activest Wealth Management increased its holdings in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares in the last quarter. Quaker Wealth Management LLC increased its holdings in Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 240 shares in the last quarter. Finally, Nova Wealth Management Inc. increased its holdings in Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.3%

Shares of NASDAQ AMGN opened at $292.09 on Wednesday. The company’s 50 day simple moving average is $287.82 and its 200 day simple moving average is $287.41. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The firm has a market capitalization of $157.25 billion, a P/E ratio of 23.88, a P/E/G ratio of 2.60 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating 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 business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period in the prior year, the business posted $4.97 earnings per share. Amgen’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. On average, analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

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 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio is currently 77.84%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMGN shares. Citigroup raised their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Raymond James Financial started coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. UBS Group dropped their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $300.94.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the 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 $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.69% of the stock is owned by corporate insiders.

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.