Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $16.73 Million Stake in Amgen Inc. $AMGN

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors LLP reduced its stake in Amgen Inc. by 4.1%, bringing its holdings to 59,923 shares valued at approximately $16.73 million as of the latest SEC filing.
• Several institutional investors recently made significant adjustments to their positions in Amgen, with Brighton Jones LLC increasing its stake by 23.5% and Global Assets Advisory LLC boosting it by 158.9%.
• Amgen reported impressive quarterly earnings, with an EPS of $6.02, exceeding estimates by $0.74, and its revenue increased by 9.4% year-over-year, signaling strong performance amid market challenges.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,923 shares of the medical research company's stock after selling 2,546 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Amgen were worth $16,731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMGN. Brighton Jones LLC grew its position in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares during the last quarter. GAMMA Investing LLC grew its position in Amgen by 40.2% in the 1st quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company's stock worth $3,662,000 after purchasing an additional 3,369 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in Amgen by 4.2% in the 1st quarter. Flagship Harbor Advisors LLC now owns 3,078 shares of the medical research company's stock worth $959,000 after purchasing an additional 124 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Amgen during the 1st quarter valued at about $276,000. Finally, Global Assets Advisory LLC boosted its position in shares of Amgen by 158.9% during the 1st quarter. Global Assets Advisory LLC now owns 2,775 shares of the medical research company's stock valued at $813,000 after acquiring an additional 1,703 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amgen

In related 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 transaction of $376,286.33. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AMGN shares. Piper Sandler lifted their target price on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Raymond James Financial started coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Bank of America lifted their target price on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research report on Friday, September 26th. Citigroup lifted their target price on shares of Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Finally, Morgan Stanley lifted their target price on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Amgen currently has a consensus rating of "Hold" and a consensus target price of $300.94.

Amgen Trading Down 1.7%

Shares of AMGN stock opened at $295.98 on Thursday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The company has a market capitalization of $159.34 billion, a P/E ratio of 24.20, a P/E/G ratio of 2.66 and a beta of 0.49. The firm has a 50-day moving average price of $287.97 and a 200 day moving average price of $287.21. 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 announced 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 net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period last year, the firm 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. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

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