Sector Gamma AS Reduces Stock Position in Amgen Inc. $AMGN

Key Points

• Sector Gamma AS reduced its stake in Amgen Inc. by 25.4% during the second quarter, now holding 44,000 shares valued at approximately $12.3 million.
• Several institutional investors increased their holdings in Amgen, with notable increases from Wealth Preservation Advisors LLC and CBIZ Investment Advisory Services LLC, reflecting interest in the biotech sector.
• Wall Street analysts have given mixed ratings for Amgen, with a consensus target price of $300.94 and a majority rating it as a Hold while six analysts rated it as a Buy.

Sector Gamma AS lessened its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 25.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,000 shares of the medical research company's stock after selling 15,000 shares during the period. Amgen makes up 4.0% of Sector Gamma AS's holdings, making the stock its 8th largest position. Sector Gamma AS's holdings in Amgen were worth $12,285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen in the 1st quarter worth $25,000. First Pacific Financial grew its holdings in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after acquiring an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in shares of Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after acquiring an additional 85 shares during the last quarter. Activest Wealth Management lifted its holdings in shares of Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after purchasing an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. lifted its holdings in shares of Amgen by 12,200.0% during the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock valued at $38,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMGN. Piper Sandler upped their target price on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday, August 25th. Bank of America upped their target price on Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a report on Friday, September 26th. Wall Street Zen raised Amgen from a "hold" rating to a "buy" rating in a report on Sunday, October 19th. Weiss Ratings raised Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Finally, Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They set 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 assigned a Sell rating to the company. Based on data from MarketBeat, Amgen has an average rating of "Hold" and a consensus target price of $300.94.

Amgen Stock Down 1.0%

AMGN opened at $292.89 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The business has a 50-day moving average of $288.02 and a 200-day moving average of $287.23. 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 company has a market capitalization of $157.68 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 2.62 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. 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 dividend payout ratio is currently 77.84%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.

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