Frank Rimerman Advisors LLC Sells 2,286 Shares of Amgen Inc. $AMGN

Frank Rimerman Advisors LLC decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 27.6% in the second quarter, HoldingsChannel reports. The fund owned 5,984 shares of the medical research company’s stock after selling 2,286 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Amgen were worth $1,671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Amgen by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after purchasing an additional 148,658 shares during the last quarter. Geode Capital Management LLC raised its stake in Amgen by 2.3% in the second 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 buying an additional 291,271 shares during the last quarter. Royal Bank of Canada raised its stake in Amgen by 6.0% in the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock valued at $1,521,339,000 after buying an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Amgen by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock worth $1,387,695,000 after acquiring an additional 243,306 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Amgen by 1.6% during the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock worth $1,017,525,000 after acquiring an additional 52,734 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMGN. Morgan Stanley lowered their target price on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. The Goldman Sachs Group decreased their price target on shares of Amgen from $405.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Cantor Fitzgerald upped their target price on Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $316.85.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction that occurred 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 transaction, the senior vice president directly owned 7,082 shares of the company’s stock, valued at $2,381,251.68. The trade was a 11.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 of the company’s stock, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.76% of the company’s stock.

Amgen Trading Up 0.7%

NASDAQ AMGN opened at $343.99 on Wednesday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $345.84. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market capitalization of $185.23 billion, a PE ratio of 28.13, a P/E/G ratio of 2.61 and a beta of 0.45. The company has a fifty day moving average of $297.43 and a 200 day moving average of $291.24.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, topping the consensus estimate of $5.01 by $0.63. The company had revenue of $9.56 billion for 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 for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, November 21st. Amgen’s dividend payout ratio (DPR) is currently 73.57%.

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.