Greenleaf Trust Sells 1,043 Shares of Amgen Inc. $AMGN

Key Points

• Greenleaf Trust reduced its stake in Amgen Inc. by 6.0%, selling 1,043 shares during the second quarter, leaving them with 16,372 shares valued at $4,571,000.
• Several large investors significantly increased their positions in Amgen, with increases as high as 12,200.0%, showcasing strong institutional interest in the company.
• Amgen recently reported quarterly earnings exceeding estimates, with EPS of $6.02, and has set a full-year guidance of 20.200-21.300 EPS for FY 2025.

Greenleaf Trust lowered its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,372 shares of the medical research company's stock after selling 1,043 shares during the quarter. Greenleaf Trust's holdings in Amgen were worth $4,571,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AMGN. Wealth Preservation Advisors LLC acquired a new position in Amgen during the first quarter worth $25,000. First Pacific Financial lifted 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 acquiring an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its position in shares of Amgen by 1,214.3% in 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 grew its position 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 acquiring an additional 103 shares during the period. Finally, Nova Wealth Management Inc. increased its stake in shares of Amgen by 12,200.0% during 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 last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated Wednesday, August 20th. The shares were 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 in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.69% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Bank of America raised their target price on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research note on Friday. Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They issued a "market perform" rating on the stock. Citigroup raised their price objective on Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Morgan Stanley increased their price target on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Amgen presently has an average rating of "Hold" and an average price target of $309.70.

Amgen Price Performance

Amgen stock opened at $273.97 on Tuesday. The company has a market capitalization of $147.49 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.37 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The stock's 50 day moving average is $288.42 and its 200-day moving average is $288.61.

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 (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 the consensus estimate of $8.86 billion. During the same period in the previous year, the company posted $4.97 EPS. The firm'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. Equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

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

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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.