Amgen Inc. $AMGN Shares Sold by Signet Financial Management LLC

Signet Financial Management LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 5.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,516 shares of the medical research company’s stock after selling 394 shares during the quarter. Signet Financial Management LLC’s holdings in Amgen were worth $1,819,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AMGN. Brighton Jones LLC lifted its stake in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Amgen in the fourth quarter valued at $36,000. Virtue Capital Management LLC lifted its stake in Amgen by 14.0% in the fourth quarter. Virtue Capital Management LLC now owns 775 shares of the medical research company’s stock valued at $202,000 after buying an additional 95 shares during the last quarter. Menard Financial Group LLC bought a new stake in Amgen in the fourth quarter valued at $79,000. Finally, Park Square Financial Group LLC bought a new stake in Amgen in the fourth quarter valued at $130,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMGN shares. Piper Sandler raised their target price on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. Citigroup lifted their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday. Cantor Fitzgerald restated a “neutral” rating and set a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Bank of America lifted their price objective on shares of Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a research note on Wednesday, July 23rd. Finally, UBS Group cut their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $309.15.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Amgen Trading Down 2.6%

Shares of AMGN opened at $279.22 on Thursday. The business’s 50-day moving average price is $289.84 and its 200 day moving average price is $289.92. The stock has a market capitalization of $150.32 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.49 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year 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 issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

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.