Iams Wealth Management LLC Lowers Stock Holdings in Amgen Inc. $AMGN

Key Points

• Iams Wealth Management LLC reduced its stake in Amgen Inc. by 61.5%, owning 3,250 shares worth $908,000 after selling 5,200 shares in the second quarter.
• Amgen's quarterly earnings exceeded expectations, reporting $6.02 EPS against a forecast of $5.28, contributing to a revenue increase of 9.4% year-over-year.
• Several investment analysts have mixed opinions on Amgen's stock, with Piper Sandler raising its price target to $342.00 while UBS Group lowered it to $317.00, reflecting varied sentiment about the company's outlook.

Iams Wealth Management LLC lessened its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 61.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,250 shares of the medical research company's stock after selling 5,200 shares during the quarter. Iams Wealth Management LLC's holdings in Amgen were worth $908,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new stake in shares of Amgen in the first quarter worth about $25,000. First Pacific Financial boosted its stake in shares of Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of 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 worth $29,000 after buying an additional 85 shares during the last quarter. Pinney & Scofield Inc. purchased a new stake in shares of Amgen in the fourth quarter worth about $26,000. Finally, Activest Wealth Management boosted its stake in shares of Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $0.59 during midday trading on Monday, hitting $286.00. The company had a trading volume of 3,050,077 shares, compared to its average volume of 2,339,546. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market cap of $153.97 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 2.48 and a beta of 0.49. The business's 50-day simple moving average is $290.35 and its 200-day simple moving average is $290.02.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter last year, the firm earned $4.97 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid 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 yield of 3.3%. Amgen's dividend payout ratio (DPR) is 77.84%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of recent research reports. Raymond James Financial initiated coverage on Amgen in a research note on Wednesday, September 3rd. They issued a "market perform" rating on the stock. UBS Group lowered their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Finally, Bank of America increased their price target on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $304.43.

Insider Transactions at Amgen

In other Amgen 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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by company insiders.

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.