Amgen Inc. $AMGN Shares Sold by Moody Lynn & Lieberson LLC

Key Points

• Moody Lynn & Lieberson LLC dramatically reduced its stake in Amgen Inc. by 81.3%, from owning 14,949 shares to just 2,791 shares in the second quarter.
• Amgen reported an earnings per share (EPS) of $6.02 for the recent quarter, surpassing analysts' expectations of $5.28, alongside a revenue of $9.18 billion.
• The company recently declared a quarterly dividend of $2.38, reflecting an annualized yield of 3.5% with a payout ratio of 77.84%.

Moody Lynn & Lieberson LLC cut its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 81.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,791 shares of the medical research company's stock after selling 12,158 shares during the quarter. Moody Lynn & Lieberson LLC's holdings in Amgen were worth $779,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new position in Amgen in the first quarter valued at $25,000. First Pacific Financial grew its position 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 acquiring an additional 67 shares during the period. CBIZ Investment Advisory Services LLC grew its position 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 valued at $29,000 after acquiring an additional 85 shares during the period. Activest Wealth Management increased its stake 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 valued at $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. raised its holdings in Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock worth $38,000 after purchasing an additional 122 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Up 0.7%

NASDAQ AMGN opened at $272.98 on Monday. The business has a fifty day moving average price of $288.86 and a 200 day moving average price of $288.89. 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 company has a market cap of $146.96 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.37 and a beta of 0.49. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.5%. Amgen's dividend payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research analyst reports. Piper Sandler raised their price objective on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday, August 25th. Raymond James Financial started coverage on Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Bank of America boosted their price target on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a report on Friday. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Finally, William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of "Hold" and an average price target of $309.70.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred 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 sale, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.69% of the company's stock.

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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