Rockland Trust Co. Cuts Stock Holdings in Amgen Inc. $AMGN

Key Points

• Rockland Trust Co. has reduced its stake in Amgen Inc. by 37.5%, selling 916 shares and now holding 1,526 shares valued at approximately $426,000.
• Several institutional investors have increased their positions in Amgen, with notable increases including First Pacific Financial (304.5%) and CBIZ Investment Advisory (1,214.3%) in the first quarter.
• Amgen's latest earnings report showed an earnings per share (EPS) of $6.02, exceeding estimates, and the company declared a quarterly dividend of $2.38, providing a dividend yield of 3.3%.

Rockland Trust Co. decreased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 37.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,526 shares of the medical research company's stock after selling 916 shares during the quarter. Rockland Trust Co.'s holdings in Amgen were worth $426,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new position in shares of Amgen in the 1st quarter valued at about $25,000. Pinney & Scofield Inc. acquired a new position in Amgen during the fourth quarter worth about $26,000. First Pacific Financial increased its holdings in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in 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 valued at $29,000 after buying an additional 85 shares in the last quarter. Finally, Activest Wealth Management lifted its position in shares of Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after acquiring an additional 103 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Trading Up 0.0%

NASDAQ:AMGN traded up $0.13 on Monday, reaching $285.54. The stock had a trading volume of 1,830,444 shares, compared to its average volume of 2,795,274. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $339.17. The company has a market cap of $153.72 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 2.48 and a beta of 0.49. The firm's fifty day moving average is $290.57 and its two-hundred day moving average is $290.29. 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 (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the previous year, the business posted $4.97 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.3%. Amgen's payout ratio is currently 77.84%.

Analysts Set New Price Targets

Several research firms recently weighed in on AMGN. Piper Sandler raised their price objective on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. UBS Group dropped their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Bank of America boosted their price objective on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Finally, William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $304.43.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.69% of the company's stock.

About Amgen

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.