Ballentine Partners LLC Sells 2,447 Shares of Amgen Inc. $AMGN

Key Points

• Ballentine Partners LLC sold 2,447 shares of Amgen Inc., reducing its position by 17.4%, and now holds 11,602 shares valued at approximately $3.24 million.
• Amgen recently reported $6.02 earnings per share, surpassing estimates, with a 9.4% year-over-year revenue growth to $9.18 billion.
• The company also announced a quarterly dividend of $2.38 per share, yielding 3.4% annually, with a dividend payout ratio of 77.84%.

Ballentine Partners LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 17.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,602 shares of the medical research company's stock after selling 2,447 shares during the period. Ballentine Partners LLC's holdings in Amgen were worth $3,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new position in Amgen during the 1st quarter worth $25,000. First Pacific Financial boosted its stake in Amgen by 304.5% in the first 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 in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after buying an additional 85 shares in the last quarter. Activest Wealth Management grew its position in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after acquiring an additional 103 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in Amgen during the 4th quarter worth $36,000. Institutional investors own 76.50% of the company's stock.

Amgen Trading Down 2.6%

NASDAQ:AMGN opened at $279.22 on Thursday. The company has a market cap of $150.32 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.49 and a beta of 0.49. The stock's fifty day moving average price is $289.84 and its two-hundred day moving average price is $289.92. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the prior year, the business posted $4.97 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMGN shares. Morgan Stanley boosted their price objective on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Citigroup boosted their price objective on Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a research note on Wednesday. Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating on the stock. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Piper Sandler increased their price objective on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Amgen has a consensus rating of "Hold" and an average target price of $309.15.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's 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 sale, the senior vice president directly owned 7,209 shares of the company's stock, valued at $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 is available through this link. 0.76% of the stock is owned by 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.

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