Ameritas Advisory Services LLC Has $1.23 Million Stock Holdings in Amgen Inc. $AMGN

Key Points

• Ameritas Advisory Services LLC has reduced its holdings in Amgen Inc. by 27.3%, now owning 4,395 shares valued at approximately $1.23 million.
• Analysts have updated Amgen's price targets, with Bank of America raising it to $272.00 while maintaining an "underperform" rating, and the average consensus price target now stands at $309.70.
• Amgen recently announced a quarterly dividend of $2.38 per share, reflecting an annualized dividend of $9.52 with a yield of 3.2%.

Ameritas Advisory Services LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 27.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,395 shares of the medical research company's stock after selling 1,651 shares during the quarter. Ameritas Advisory Services LLC's holdings in Amgen were worth $1,227,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen during the first quarter worth about $25,000. First Pacific Financial boosted its position in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares during the period. CBIZ Investment Advisory Services LLC boosted its position in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after acquiring an additional 85 shares during the last quarter. Activest Wealth Management boosted its position in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after acquiring an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. boosted its position in Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock worth $38,000 after acquiring an additional 122 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Bank of America upped their price target on Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a research report on Friday, September 26th. Morgan Stanley increased their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Raymond James Financial began coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating for the company. Piper Sandler increased their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. Finally, Citigroup increased their price target on Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Seven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $309.70.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by corporate insiders.

Amgen Stock Up 0.2%

AMGN opened at $297.89 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a fifty day moving average of $287.34 and a 200-day moving average of $288.17. The company has a market capitalization of $160.37 billion, a P/E ratio of 24.36, a P/E/G ratio of 2.59 and a beta of 0.49.

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 for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter in the previous year, the company earned $4.97 EPS. The business's revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.2%. 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.

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