Moloney Securities Asset Management LLC Sells 2,270 Shares of Amgen Inc. $AMGN

Key Points

• Moloney Securities Asset Management LLC has reduced its stake in Amgen Inc. by 13.1%, selling 2,270 shares and retaining 15,011 shares valued at approximately $4.19 million as of the latest SEC filing.
• Amgen has seen recent analyst activity with Wall Street Zen upgrading the stock to a "buy" rating, while the average rating remains "hold" with a consensus target price of $300.94.
• The company reported earnings of $6.02 EPS, exceeding estimates, and has announced a quarterly dividend of $2.38 per share, indicating a yield of 3.3%.

Moloney Securities Asset Management LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 13.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,011 shares of the medical research company's stock after selling 2,270 shares during the quarter. Moloney Securities Asset Management LLC's holdings in Amgen were worth $4,191,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Fairvoy Private Wealth LLC raised its holdings in shares of Amgen by 1.1% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company's stock valued at $885,000 after purchasing an additional 35 shares in the last quarter. Nicholson Wealth Management Group LLC raised its holdings in shares of Amgen by 0.6% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company's stock valued at $1,652,000 after purchasing an additional 35 shares in the last quarter. Crumly & Associates Inc. raised its holdings in shares of Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock valued at $320,000 after purchasing an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. raised its holdings in shares of Amgen by 5.2% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock valued at $204,000 after purchasing an additional 36 shares in the last quarter. Finally, Lion Street Advisors LLC raised its holdings in shares of Amgen by 1.3% in the 2nd quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company's stock valued at $774,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent research reports. Wall Street Zen upgraded shares of Amgen from a "hold" rating to a "buy" rating in a report on Sunday, October 19th. UBS Group reduced their price target on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Bank of America boosted their price objective on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a research note on Friday, September 26th. Morgan Stanley boosted their price objective on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. 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. Six 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $300.94.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.76% of the company's stock.

Amgen Trading Down 1.0%

Shares of NASDAQ:AMGN opened at $292.89 on Friday. The firm has a market capitalization of $157.68 billion, a P/E ratio of 23.95, a P/E/G ratio of 2.62 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. 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 business's 50-day moving average is $288.02 and its 200 day moving average is $287.23.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.97 EPS. 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 fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's payout ratio 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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