First Long Island Investors LLC Has $22.39 Million Holdings in Amgen Inc. $AMGN

Key Points

• First Long Island Investors LLC reduced its position in Amgen Inc. by 13.2%, owning 71,851 shares valued at approximately $22.39 million after selling 10,950 shares in the first quarter.
• Amgen reported a $6.02 earnings per share for the latest quarter, exceeding expectations and showing a 9.4% increase in revenue year-over-year.
• The company announced a quarterly dividend of $2.38, leading to an annualized dividend of $9.52 and a dividend yield of 3.4%.

First Long Island Investors LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 13.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,851 shares of the medical research company's stock after selling 10,950 shares during the quarter. Amgen makes up 1.8% of First Long Island Investors LLC's portfolio, making the stock its 21st largest holding. First Long Island Investors LLC's holdings in Amgen were worth $22,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. KPP Advisory Services LLC grew its holdings in shares of Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock valued at $1,817,000 after purchasing an additional 2,716 shares during the last quarter. Advisor Resource Council bought a new position in shares of Amgen during the first quarter valued at approximately $1,331,000. Trinity Legacy Partners LLC grew its holdings in Amgen by 3.9% in the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock worth $5,026,000 after buying an additional 612 shares in the last quarter. DLK Investment Management LLC grew its holdings in Amgen by 7.3% in the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after buying an additional 1,387 shares in the last quarter. Finally, Founders Financial Alliance LLC grew its holdings in Amgen by 2.7% in the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock worth $491,000 after buying an additional 42 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Guggenheim assumed coverage on Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective for the company. Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup increased their price objective on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Finally, UBS Group cut their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Amgen currently has an average rating of "Hold" and an average price target of $304.43.

Amgen Price Performance

Shares of NASDAQ AMGN traded down $6.34 during mid-day trading on Friday, reaching $276.39. The company had a trading volume of 2,143,109 shares, compared to its average volume of 1,853,902. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. The stock has a market cap of $148.80 billion, a PE ratio of 22.60, a P/E/G ratio of 2.40 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company has a 50-day moving average price of $292.54 and a two-hundred day moving average price of $291.56.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating 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 business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the business posted $4.97 earnings per share. Amgen's 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. On average, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's dividend payout ratio is currently 77.84%.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated 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 sale, the senior vice president directly owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

About Amgen

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.