Amgen Inc. $AMGN Shares Sold by 180 Wealth Advisors LLC

Key Points

• 180 Wealth Advisors cut its Amgen stake by 82.6% in the third quarter, selling 12,521 shares and retaining 2,636 shares valued at about $1.11 million.
• Amgen reported quarterly results above expectations: adjusted EPS was $6.45 versus $5.79 forecast, while revenue of $10.37 billion rose 8.5% year over year.
• Analyst views remain mixed, with the stock carrying a consensus Hold rating and an average price target of $420.80.

180 Wealth Advisors LLC lessened its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 82.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,636 shares of the medical research company's stock after selling 12,521 shares during the period. 180 Wealth Advisors LLC's holdings in Amgen were worth $1,111,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Wellington Altus USA Inc. raised its stake in Amgen by 72.3% during the second quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company's stock worth $28,000 after acquiring an additional 34 shares in the last quarter. Quest 10 Wealth Builders Inc. boosted its stake in shares of Amgen by 220.0% in the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 80 shares of the medical research company's stock valued at $34,000 after purchasing an additional 55 shares in the last quarter. Nvwm LLC boosted its stake in shares of Amgen by 412.5% in the 3rd quarter. Nvwm LLC now owns 82 shares of the medical research company's stock valued at $35,000 after purchasing an additional 66 shares in the last quarter. Security National Bank of Sioux City Iowa IA bought a new stake in shares of Amgen during the 2nd quarter valued at approximately $36,000. Finally, PFS Partners LLC grew its holdings in shares of Amgen by 95.5% during the 3rd quarter. PFS Partners LLC now owns 86 shares of the medical research company's stock valued at $36,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported quarterly earnings and revenue above expectations, with revenue up 8.5% year over year. Its earnings-call discussion also emphasized growth and pipeline momentum, supporting the case for continued expansion. Amgen Earnings Call Highlights Growth, Pipeline Momentum
• Positive Sentiment: A large real-world study found Repatha lowered heart-attack risk by 20% versus ezetimibe in patients with heart disease. The findings could strengthen the drug’s clinical and commercial position. Repatha real-world study
• Positive Sentiment: Scotiabank reiterated a Buy view and set a $530 price target; UBS also maintains a Buy rating with a $530 target. Separately, ETFs bought a net $79.8 million of AMGN shares in Wednesday’s session. Scotiabank price target ETF holdings
• Neutral Sentiment: Analyst opinions remain divided: Leerink Partners and Guggenheim have Hold/neutral ratings, while Scotiabank and UBS are more optimistic. The differing views suggest debate about how much of Amgen’s recent gains are already reflected in its valuation. Leerink Partners rating
• Negative Sentiment: Freedom Broker downgraded Amgen to Hold, adding to the cautious analyst commentary and potentially tempering enthusiasm after the recent rally. Freedom Broker downgrade

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the sale, the senior vice president directly owned 6,404 shares in the company, valued at $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.85% of the stock is owned by insiders.

Analysts Set New Price Targets

AMGN has been the subject of a number of research analyst reports. HSBC cut shares of Amgen from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $445.00 to $425.00 in a research report on Thursday, September 10th. Mizuho raised their target price on shares of Amgen from $303.00 to $352.00 and gave the company a "neutral" rating in a research report on Tuesday, August 18th. Robert W. Baird boosted their target price on shares of Amgen from $215.00 to $230.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 5th. Scotiabank boosted their target price on shares of Amgen from $500.00 to $530.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, November 4th. Finally, Royal Bank Of Canada upped their price target on shares of Amgen from $430.00 to $470.00 and gave the stock an "outperform" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $420.80.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $460.42 on Monday. The company has a 50 day simple moving average of $422.43 and a 200 day simple moving average of $378.19. The firm has a market cap of $249.05 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 3.21 and a beta of 0.43. Amgen Inc. has a 1 year low of $312.39 and a 1 year high of $483.99. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.48 and a quick ratio of 1.20.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The medical research company reported $6.45 EPS for the quarter, topping the consensus estimate of $5.79 by $0.66. Amgen had a net margin of 24.14% and a return on equity of 114.99%. The business had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.07 billion. During the same period last year, the company earned $5.64 EPS. The firm's revenue was up 8.5% compared to the same quarter last year. On average, research analysts forecast that Amgen Inc. will post 23.33 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $10.08 annualized dividend and a dividend yield of 2.2%. Amgen's payout ratio is currently 58.47%.

Amgen Profile

Amgen is a biotechnology company that discovers, develops, manufactures and commercializes medicines for serious illnesses. Its research and product portfolio span areas including cancer, cardiovascular disease, inflammation, bone health and rare diseases.

The company's medicines include Enbrel, Prolia, Xgeva and Repatha. Amgen serves patients and healthcare providers in the United States and markets its products internationally.

Founded in 1980 and headquartered in Thousand Oaks, California, Amgen is led by Robert A.

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