Alpine Woods Capital Investors LLC Lowers Stock Holdings in Amgen Inc. $AMGN

Key Points

• Alpine Woods Capital Investors LLC has reduced its stake in Amgen Inc. by 4.3%, bringing its total holdings to 24,160 shares valued at approximately $6.7 million.
• Amgen's stock has received mixed ratings from analysts, with a consensus rating of "Hold" and a target price of $309.42; meanwhile, several hedge funds have increased their positions significantly.
• Amgen announced a quarterly dividend of $2.38 per share, reflecting an annualized dividend yield of 3.3% and a payout ratio of 77.84%.

Alpine Woods Capital Investors LLC lowered its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,160 shares of the medical research company's stock after selling 1,093 shares during the period. Amgen comprises approximately 1.6% of Alpine Woods Capital Investors LLC's holdings, making the stock its 15th largest position. Alpine Woods Capital Investors LLC's holdings in Amgen were worth $6,746,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMGN. Wealth Preservation Advisors LLC acquired a new stake in Amgen in the first quarter valued at about $25,000. First Pacific Financial lifted its position in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after purchasing an additional 85 shares during the period. Activest Wealth Management lifted its position in Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after purchasing an additional 103 shares during the period. Finally, Nova Wealth Management Inc. lifted its position in Amgen by 12,200.0% in the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock valued at $38,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Activity

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 completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. William Blair restated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Weiss Ratings upgraded shares of Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Citigroup lifted their price target on shares of Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Raymond James Financial initiated coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating for the company. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $309.42.

Amgen Trading Up 0.8%

Shares of Amgen stock opened at $292.40 on Tuesday. 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 Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The company has a market capitalization of $157.42 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.52 and a beta of 0.49. The business has a 50 day moving average price of $286.58 and a 200 day moving average price of $287.33.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the previous year, the firm posted $4.97 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen's payout ratio is currently 77.84%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.