Curi RMB Capital LLC Lowers Holdings in Amgen Inc. $AMGN

Key Points

• Curi RMB Capital LLC has reduced its stake in Amgen Inc. by 31.4%, selling 13,083 shares and leaving it with 28,602 shares valued at approximately $8.91 million.
• In the first quarter, several institutional investors increased their holdings in Amgen, with Banque Transatlantique SA boosting its position by 8,269.9% after acquiring 141,580 shares.
• Amgen recently reported earnings of $6.02 per share for the quarter, exceeding analysts' expectations, while also announcing a quarterly dividend of $2.38 per share.

Curi RMB Capital LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 31.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,602 shares of the medical research company's stock after selling 13,083 shares during the quarter. Curi RMB Capital LLC's holdings in Amgen were worth $8,911,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen in the first quarter worth approximately $25,000. Pinney & Scofield Inc. bought a new stake in Amgen during the 4th quarter valued at $26,000. First Pacific Financial increased its stake in 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 purchasing an additional 67 shares in the last quarter. Activest Wealth Management increased its stake in Amgen by 3,433.3% during 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, Heck Capital Advisors LLC bought a new stake in Amgen during the fourth quarter worth $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of AMGN traded up $3.54 during midday trading on Friday, hitting $283.64. 2,299,355 shares of the company traded hands, compared to its average volume of 1,815,359. The stock has a 50-day moving average of $293.85 and a 200-day moving average of $292.60. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The firm has a market cap of $152.70 billion, a P/E ratio of 23.19, a PEG ratio of 2.46 and a beta of 0.49. 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 released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share 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 firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter last year, the firm posted $4.97 EPS. The company's revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction 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 $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.69% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Bank of America upped their price target on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Piper Sandler boosted their price target on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Guggenheim initiated coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target on the stock. Citigroup boosted their price target on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $304.43.

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.