SeaBridge Investment Advisors LLC Decreases Position in Amgen Inc. $AMGN

Key Points

• SeaBridge Investment Advisors LLC has reduced its stake in Amgen Inc. by 15.2%, now holding 19,200 shares worth approximately $5.36 million, which represents around 1.0% of its total portfolio.
• Amgen's recent earnings report showed an EPS of $6.02, surpassing analysts' expectations of $5.28, with revenues of $9.18 billion, reflecting a 9.4% increase year-over-year.
• Amgen has declared a quarterly dividend of $2.38, translating to an annualized yield of 3.5%, with a payout ratio of 77.84%.

SeaBridge Investment Advisors LLC cut its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,200 shares of the medical research company's stock after selling 3,432 shares during the quarter. Amgen makes up approximately 1.0% of SeaBridge Investment Advisors LLC's portfolio, making the stock its 27th largest holding. SeaBridge Investment Advisors LLC's holdings in Amgen were worth $5,361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. GAMMA Investing LLC raised its holdings in Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after acquiring an additional 3,653,205 shares during the last quarter. Nuveen LLC acquired a new stake in Amgen in the 1st quarter valued at about $688,868,000. Federated Hermes Inc. raised its holdings in Amgen by 48.5% in the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company's stock valued at $634,680,000 after acquiring an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Amgen by 128.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company's stock valued at $332,017,000 after acquiring an additional 600,096 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in Amgen in the 2nd quarter valued at about $156,812,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.76% of the company's stock.

Amgen Stock Up 0.7%

Shares of NASDAQ AMGN opened at $272.98 on Friday. The company has a 50 day simple moving average of $288.86 and a 200-day simple moving average of $289.22. The company has a market capitalization of $146.96 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.36 and a beta of 0.49. 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 Inc. has a 1 year low of $253.30 and a 1 year high of $335.88.

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, topping 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 the consensus estimate of $8.86 billion. During the same quarter last year, the firm earned $4.97 EPS. The business'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. On average, equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is 77.84%.

Analyst Ratings Changes

AMGN has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a report on Friday. William Blair reiterated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Piper Sandler increased their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday, August 25th. Raymond James Financial started coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating for the company. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $309.70.

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.

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