Relyea Zuckerberg Hanson LLC Decreases Stock Holdings in Amgen Inc. $AMGN

Relyea Zuckerberg Hanson LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 5.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,619 shares of the medical research company’s stock after selling 100 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Amgen were worth $452,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in shares of Amgen during the 1st quarter valued at $688,868,000. Federated Hermes Inc. raised its stake in Amgen by 48.5% in the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock valued at $634,680,000 after buying an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Amgen by 128.9% in the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after acquiring an additional 600,096 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Amgen during the second quarter worth about $156,812,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Amgen by 1,505.3% during the second quarter. Assenagon Asset Management S.A. now owns 518,604 shares of the medical research company’s stock valued at $144,799,000 after acquiring an additional 486,299 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Down 1.3%

AMGN stock opened at $294.12 on Tuesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The firm has a 50-day simple moving average of $287.20 and a 200-day simple moving average of $287.83. The stock has a market capitalization of $158.34 billion, a P/E ratio of 24.05, a P/E/G ratio of 2.59 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) 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 analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.2%. Amgen’s dividend payout ratio is 77.84%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMGN. Piper Sandler boosted their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Amgen in a research note on Saturday, September 27th. UBS Group dropped their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Raymond James Financial assumed coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $309.42.

Amgen Company Profile

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.