3,524 Amgen Inc. $AMGN Shares Sold by Colton Groome Financial Advisors LLC

Key Points

• Colton Groome Financial Advisors LLC cut its Amgen stake by 78.4% in the third quarter, selling 3,524 shares and retaining 970 shares valued at approximately $409,000.
• Amgen reported quarterly earnings of $6.29 per share and revenue of $10.05 billion, exceeding analyst expectations; revenue increased 9.5% year over year.
• Amgen shares recently traded near $401.80, while analysts maintained a consensus “Hold” rating with an average price target of $385.25. The company also pays a quarterly dividend of $2.52 per share, yielding about 2.5% annually.

Colton Groome Financial Advisors LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 78.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 970 shares of the medical research company's stock after selling 3,524 shares during the quarter. Colton Groome Financial Advisors LLC's holdings in Amgen were worth $409,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wellington Altus USA Inc. boosted its stake in shares of Amgen by 72.3% in the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company's stock valued at $28,000 after purchasing an additional 34 shares in the last quarter. Tower View Wealth Management LLC increased its position in shares of Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of Amgen during the 2nd quarter worth about $36,000. Evergreen Advisors LLC bought a new position in Amgen during the 1st quarter valued at about $37,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Amgen in the fourth quarter valued at about $44,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amgen

In related news, SVP Nancy Grygiel sold 2,970 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the sale, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the transaction, the senior vice president directly owned 6,404 shares in the company, valued at $2,666,817.72. The trade was a 16.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,222 shares of company stock valued at $2,540,926 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.

Amgen Trading Down 0.3%

Shares of NASDAQ:AMGN traded down $1.18 during trading on Tuesday, hitting $401.80. 729,172 shares of the company's stock were exchanged, compared to its average volume of 2,754,507. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The firm has a market cap of $217.23 billion, a P/E ratio of 24.94, a PEG ratio of 2.91 and a beta of 0.41. The firm has a 50-day moving average price of $411.25 and a two-hundred day moving average price of $370.65. Amgen Inc. has a 1-year low of $288.00 and a 1-year high of $447.03.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm had revenue of $10.05 billion for the quarter, compared to analysts' expectations of $9.43 billion. During the same period last year, the firm earned $6.02 earnings per share. The business's revenue for the quarter was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities analysts predict that Amgen Inc. will post 22.94 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 21st were paid a dividend of $2.52 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.5%. Amgen's payout ratio is 62.65%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMGN. Argus raised their price objective on shares of Amgen from $375.00 to $460.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Wall Street Zen raised Amgen from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. BMO Capital Markets downgraded Amgen from an "outperform" rating to a "market perform" rating and set a $450.00 price objective for the company. in a research report on Tuesday, September 8th. Jefferies Financial Group restated a "hold" rating and set a $410.00 target price on shares of Amgen in a report on Wednesday, September 23rd. Finally, Piper Sandler raised their target price on Amgen from $427.00 to $457.00 and gave the company an "overweight" rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $385.25.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen's portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.

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