Amgen Inc. $AMGN Shares Sold by Meyer Handelman Co.

Key Points

• Meyer Handelman Co. has reduced its holdings in Amgen Inc. by 2.4%, now owning 128,794 shares worth approximately $35.96 million, making it the company's 27th largest holding.
• Amgen's recent quarterly earnings exceeded analysts' expectations, reporting $6.02 EPS against a consensus estimate of $5.28, alongside a revenue of $9.18 billion.
• Equity research analysts have mixed opinions on Amgen, with seven analysts rating it as a Buy, while the consensus target price stands at approximately $309.15.

Meyer Handelman Co. trimmed its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 128,794 shares of the medical research company's stock after selling 3,118 shares during the period. Amgen accounts for approximately 1.2% of Meyer Handelman Co.'s holdings, making the stock its 27th largest holding. Meyer Handelman Co.'s holdings in Amgen were worth $35,961,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Preservation Advisors LLC purchased a new position in Amgen during the first quarter worth approximately $25,000. First Pacific Financial grew its stake in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after buying an additional 67 shares during the period. CBIZ Investment Advisory Services LLC increased its holdings in shares of 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 buying an additional 85 shares during the last quarter. Activest Wealth Management raised its position in shares of Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after buying an additional 103 shares during the period. Finally, Nova Wealth Management Inc. boosted its holdings 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 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

Several equities research analysts have commented on AMGN shares. Piper Sandler upped their price target on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. 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 research report on Wednesday, August 6th. 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. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Finally, Bank of America raised their target price on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $309.15.

Amgen Price Performance

Shares of AMGN stock opened at $271.18 on Friday. The firm has a fifty day simple moving average of $289.29 and a 200-day simple moving average of $289.53. The company has a market capitalization of $145.99 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.43 and a beta of 0.49. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

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

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors 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 dividend on an annualized basis and a yield of 3.5%. Amgen's dividend payout ratio is currently 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's 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 sale, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is currently owned by company insiders.

Amgen 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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