Amgen Inc. $AMGN Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 22.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 759 shares of the medical research company’s stock after selling 224 shares during the quarter. Drive Wealth Management LLC’s holdings in Amgen were worth $212,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Fairvoy Private Wealth LLC raised its stake in shares of Amgen by 1.1% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after purchasing an additional 35 shares in the last quarter. Nicholson Wealth Management Group LLC raised its stake in shares of Amgen by 0.6% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock valued at $1,652,000 after purchasing an additional 35 shares in the last quarter. Crumly & Associates Inc. raised its stake in shares of Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after purchasing an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. raised its stake in shares of Amgen by 5.2% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock valued at $204,000 after purchasing an additional 36 shares in the last quarter. Finally, Lion Street Advisors LLC raised its stake in shares of Amgen by 1.3% in the 2nd quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock valued at $774,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN opened at $301.14 on Wednesday. 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. The stock has a market cap of $162.12 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.68 and a beta of 0.49. The company has a 50-day moving average price of $287.83 and a two-hundred day moving average price of $287.15.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS 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 during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter in the prior year, the firm earned $4.97 EPS. Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. UBS Group lowered their price objective 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. Finally, Citigroup boosted their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average price target of $300.94.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were 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 owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.69% of the company’s stock.

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.