Leibman Financial Services Inc. Has $3.06 Million Position in Amgen Inc. $AMGN

Key Points

• Leibman Financial Services Inc. reduced its stock holding in Amgen Inc. by 12%, owning 10,975 shares after selling 1,495 shares, making Amgen about 2.4% of its portfolio with a value of $3,064,000.
• Several institutional investors significantly increased their holdings in Amgen during the fourth quarter, with Tidal Investments LLC raising its stake by 39.2%, while overall, hedge funds control approximately 76.50% of the stock.
• Amgen's recent quarterly earnings report beat estimates with earnings per share of $6.02 and a revenue of $9.18 billion, reflecting a year-over-year growth of 9.4%.

Leibman Financial Services Inc. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 12.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,975 shares of the medical research company's stock after selling 1,495 shares during the period. Amgen makes up approximately 2.4% of Leibman Financial Services Inc.'s investment portfolio, making the stock its 21st largest holding. Leibman Financial Services Inc.'s holdings in Amgen were worth $3,064,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Keystone Wealth Services LLC raised its position in shares of Amgen by 3.0% during the second quarter. Keystone Wealth Services LLC now owns 2,255 shares of the medical research company's stock worth $630,000 after purchasing an additional 66 shares during the period. StrongBox Wealth LLC boosted its holdings in shares of Amgen by 10.7% in the second quarter. StrongBox Wealth LLC now owns 12,430 shares of the medical research company's stock valued at $3,471,000 after buying an additional 1,197 shares during the period. Thrive Wealth Management LLC boosted its holdings in shares of Amgen by 14.7% in the second quarter. Thrive Wealth Management LLC now owns 3,272 shares of the medical research company's stock valued at $914,000 after buying an additional 420 shares during the period. Breakwater Capital Group raised its holdings in shares of Amgen by 28.2% during the second quarter. Breakwater Capital Group now owns 1,748 shares of the medical research company's stock worth $488,000 after acquiring an additional 385 shares during the period. Finally, New England Research & Management Inc. lifted its position in Amgen by 81.7% in the 2nd quarter. New England Research & Management Inc. now owns 4,620 shares of the medical research company's stock valued at $1,290,000 after acquiring an additional 2,077 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction dated 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 transaction, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is currently owned by company insiders.

Amgen Stock Performance

Shares of Amgen stock traded up $9.58 during trading on Friday, reaching $285.41. The company's stock had a trading volume of 8,729,346 shares, compared to its average volume of 2,801,242. The business's 50-day moving average price is $290.76 and its 200-day moving average price is $290.85. The firm has a market cap of $153.65 billion, a PE ratio of 23.34, a P/E/G ratio of 2.39 and a beta of 0.49. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $339.17. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

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 analysts' consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business 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. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's payout ratio is 77.84%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMGN. UBS Group cut their price objective on shares of 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 shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Morgan Stanley raised their target price on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Finally, Raymond James Financial assumed coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a "market perform" rating for the company. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $304.43.

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.