Wrapmanager Inc. Sells 156 Shares of Amgen Inc. $AMGN

Wrapmanager Inc. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.9% during the second quarter, HoldingsChannel reports. The fund owned 3,057 shares of the medical research company’s stock after selling 156 shares during the quarter. Wrapmanager Inc.’s holdings in Amgen were worth $854,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new position in Amgen during the 1st quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen in the second quarter worth about $27,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after buying an additional 85 shares during the period. Activest Wealth Management grew its stake in shares of Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after buying an additional 103 shares during the last quarter. Finally, Quaker Wealth Management LLC raised its holdings in shares of Amgen by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after buying an additional 240 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on AMGN shares. Deutsche Bank Aktiengesellschaft upped their price objective on Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research report on Tuesday. Raymond James Financial initiated coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Bank of America upped their price target on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. DZ Bank lifted their price objective on shares of Amgen from $335.00 to $364.00 in a report on Monday. Finally, The Goldman Sachs Group lowered their price objective on shares of Amgen from $405.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price of $314.05.

Amgen Stock Performance

AMGN stock opened at $336.00 on Friday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $345.84. The business has a 50-day moving average price of $293.85 and a 200 day moving average price of $290.01. The company has a market capitalization of $180.93 billion, a P/E ratio of 27.47, a PEG ratio of 2.61 and a beta of 0.45. 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 posted its earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter last year, the firm posted $5.58 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a yield of 2.8%. Amgen’s payout ratio is 73.57%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction 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 sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the transaction, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,036 shares of company stock worth $2,992,594 over the last 90 days. Company insiders own 0.69% of the company’s stock.

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.