Belpointe Asset Management LLC Reduces Stock Position in Amgen Inc. $AMGN

Key Points

• Belpointe Asset Management LLC decreased its stock position in Amgen Inc. by 34.4%, holding 6,399 shares after selling 3,361 shares, valued at approximately $1,994,000.
• Despite the reduction by Belpointe, other investors such as Wealth Preservation Advisors LLC and First Pacific Financial increased their positions, indicating mixed institutional sentiment towards Amgen.
• Amgen recently reported a $6.02 EPS for the quarter, exceeding expectations, with a revenue increase of 9.4% year-over-year, while also announcing a quarterly dividend of $2.38 to be paid to shareholders.

Belpointe Asset Management LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 34.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,399 shares of the medical research company's stock after selling 3,361 shares during the period. Belpointe Asset Management LLC's holdings in Amgen were worth $1,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new position in shares of Amgen in the 1st quarter worth approximately $25,000. Pinney & Scofield Inc. purchased a new position in shares of Amgen in the 4th quarter worth approximately $26,000. First Pacific Financial boosted its holdings in shares of Amgen by 304.5% in 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 period. Activest Wealth Management boosted its holdings 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 purchasing an additional 103 shares during the period. Finally, Heck Capital Advisors LLC purchased a new position in shares of Amgen in the 4th quarter worth approximately $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Morgan Stanley lifted their target price on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Piper Sandler boosted their price target on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. Guggenheim began coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Finally, Citigroup upped their target price on Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Amgen has a consensus rating of "Hold" and a consensus target price of $304.43.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were 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 represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.76% of the stock is owned by company insiders.

Amgen Stock Down 0.5%

Shares of AMGN stock opened at $278.51 on Thursday. The stock's 50-day simple moving average is $293.29 and its 200-day simple moving average is $292.22. 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 firm has a market capitalization of $149.94 billion, a PE ratio of 22.77, a P/E/G ratio of 2.43 and a beta of 0.49. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio is 77.84%.

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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