Greenwood Capital Associates LLC Sells 5,673 Shares of Amgen Inc. $AMGN

Key Points

• Greenwood Capital Associates LLC reduced its stake in Amgen Inc. by **28%** in Q2, selling **5,673 shares**, leaving them with **14,583 shares** valued at **$4.07 million**.
• Multiple institutional investors such as **Vanguard Group** and **Royal Bank of Canada** increased their holdings in Amgen, indicating significant interest in the stock among large investors.
• Analyst ratings for Amgen show a consensus average of **"Hold"**, with a mixed range of price objectives, reflecting differing views on its future performance.

Greenwood Capital Associates LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 28.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,583 shares of the medical research company's stock after selling 5,673 shares during the quarter. Greenwood Capital Associates LLC's holdings in Amgen were worth $4,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Amgen by 0.3% during the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock valued at $16,471,790,000 after acquiring an additional 148,658 shares in the last quarter. Royal Bank of Canada raised its holdings in Amgen by 6.0% in the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company's stock worth $1,521,339,000 after purchasing an additional 274,488 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Amgen by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company's stock worth $1,387,695,000 after purchasing an additional 243,306 shares in the last quarter. Deutsche Bank AG raised its holdings in Amgen by 1.6% in the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company's stock worth $1,017,525,000 after purchasing an additional 52,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Amgen by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company's stock worth $940,989,000 after purchasing an additional 22,820 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMGN. Bank of America increased their price objective on Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a report on Friday, September 26th. Morgan Stanley increased their price objective on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. William Blair reiterated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Citigroup increased their price objective on Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Seven research 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. Based on data from MarketBeat.com, Amgen has an average rating of "Hold" and a consensus target price of $309.70.

Amgen Trading Down 0.4%

Amgen stock opened at $297.40 on Friday. 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 Inc. has a one year low of $253.30 and a one year high of $335.88. The stock has a market capitalization of $160.11 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 2.59 and a beta of 0.49. The business's fifty day moving average is $287.51 and its 200 day moving average is $288.50.

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. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. During the same period last year, the firm posted $4.97 earnings per share. Amgen'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. On average, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen's dividend payout ratio (DPR) is 77.84%.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction 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 filing with the SEC, which is available at the SEC website. 0.76% of the stock is owned by company insiders.

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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