Samalin Investment Counsel LLC Trims Position in Amgen Inc. $AMGN

Key Points

• Samalin Investment Counsel LLC reduced its holdings in Amgen Inc. by 29.7%, selling 940 shares to now own a total of 2,229 shares valued at $695,000.
• Amgen reported $6.02 earnings per share for its last quarter, exceeding analyst estimates of $5.28, and had a revenue of $9.18 billion, which was up 9.4% year-over-year.
• The company has announced a quarterly dividend of $2.38 per share, reflecting a 3.3% dividend yield, with an ex-dividend date of August 22nd.

Samalin Investment Counsel LLC cut its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 29.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,229 shares of the medical research company's stock after selling 940 shares during the period. Samalin Investment Counsel LLC's holdings in Amgen were worth $695,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. KPP Advisory Services LLC grew its holdings in shares of Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after purchasing an additional 2,716 shares during the last quarter. Advisor Resource Council bought a new position in shares of Amgen in the first quarter worth about $1,331,000. Trinity Legacy Partners LLC grew its holdings in shares of Amgen by 3.9% in the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock worth $5,026,000 after purchasing an additional 612 shares during the last quarter. DLK Investment Management LLC grew its holdings in shares of Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after purchasing an additional 1,387 shares during the last quarter. Finally, Founders Financial Alliance LLC grew its holdings in shares of Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock worth $491,000 after purchasing an additional 42 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AMGN shares. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Guggenheim began coverage on shares of Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Bank of America increased their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Citigroup increased their target price on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, Mizuho increased their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $304.43.

Amgen Stock Up 0.7%

Shares of NASDAQ:AMGN traded up $2.10 during trading on Friday, reaching $287.71. The stock had a trading volume of 1,302,709 shares, compared to its average volume of 2,094,510. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The company has a market capitalization of $154.89 billion, a P/E ratio of 23.52, a PEG ratio of 2.48 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The firm's 50-day simple moving average is $293.13 and its 200 day simple moving average is $292.92.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $8.86 billion. During the same period last year, the business earned $4.97 EPS. The company's revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,267 shares of the 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 completion of the transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.76% of the company's stock.

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.