Freestone Capital Holdings LLC Has $3.63 Million Holdings in Amgen Inc. $AMGN

Key Points

• Freestone Capital Holdings LLC reduced its holdings in Amgen Inc. by 10.6%, maintaining 11,663 shares valued at $3,634,000 as of the latest SEC filing.
• Amgen recently reported quarterly earnings of $6.02 per share, exceeding estimates and demonstrating a 9.4% increase in revenue year-over-year.
• The company declared a quarterly dividend of $2.38, with a 3.2% yield and a payout ratio of 77.84% scheduled for payment on September 12th.

Freestone Capital Holdings LLC cut its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,663 shares of the medical research company's stock after selling 1,385 shares during the quarter. Freestone Capital Holdings LLC's holdings in Amgen were worth $3,634,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMGN. First Pacific Financial increased 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 worth $28,000 after purchasing an additional 67 shares during the last quarter. Pinney & Scofield Inc. bought a new position in Amgen during the fourth quarter worth about $26,000. Global Wealth Strategies & Associates grew its holdings in Amgen by 1,388.9% during the first quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after purchasing an additional 125 shares during the period. Heck Capital Advisors LLC acquired a new position in Amgen during the fourth quarter worth approximately $36,000. Finally, South Plains Financial Inc. bought a new stake in Amgen in the fourth quarter valued at approximately $37,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN traded up $0.90 during mid-day trading on Wednesday, hitting $296.45. 1,722,772 shares of the company's stock were exchanged, compared to its average volume of 2,855,375. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $339.17. The stock's 50-day simple moving average is $293.40 and its 200-day simple moving average is $293.17. The firm has a market cap of $159.60 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (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 analysts' expectations of $8.86 billion. During the same period in the previous year, the company posted $4.97 earnings per share. The firm's revenue for the quarter 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 research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's payout ratio is 77.84%.

Analyst Ratings Changes

Several brokerages have recently commented on AMGN. Mizuho lifted their target price on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley lifted their price objective 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. Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Finally, William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Amgen has an average rating of "Hold" and a consensus price target of $303.76.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.69% of the stock is owned by corporate insiders.

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.