Steward Partners Investment Advisory LLC Decreases Position in Amgen Inc. $AMGN

Key Points

• Steward Partners Investment Advisory LLC reduced its stake in Amgen Inc. by 1.6%, owning 73,963 shares valued at approximately $23.04 million at the end of the first quarter.
• Rachna Khosla, SVP of Amgen, sold 1,500 shares at an average price of $289.68, leading to a 15.52% decrease in their ownership of Amgen stock.
• Amgen recently declared a quarterly dividend of $2.38, resulting in a 3.2% yield for shareholders, with a payout ratio of 77.84%.

Steward Partners Investment Advisory LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,963 shares of the medical research company's stock after selling 1,196 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Amgen were worth $23,043,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beck Mack & Oliver LLC lifted its stake in shares of Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after purchasing an additional 34 shares during the period. Continuum Advisory LLC increased its holdings in Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock valued at $1,343,000 after buying an additional 35 shares in the last quarter. Octavia Wealth Advisors LLC lifted its position in shares of Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock valued at $759,000 after acquiring an additional 35 shares during the period. Affinity Capital Advisors LLC boosted its stake in shares of Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after acquiring an additional 37 shares in the last quarter. Finally, Accredited Investors Inc. grew its holdings in shares of Amgen by 1.7% in the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after acquiring an additional 37 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Up 0.3%

Amgen stock traded up $0.90 during trading on Wednesday, hitting $296.45. The company's stock had a trading volume of 1,722,772 shares, compared to its average volume of 2,855,375. The stock's fifty day moving average is $293.40 and its 200 day moving average is $293.17. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. The stock has a market capitalization of $159.60 billion, a price-to-earnings ratio of 24.24, a P/E/G ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS 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 company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the prior year, the company posted $4.97 EPS. The company's quarterly 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, equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen's payout ratio is currently 77.84%.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMGN. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada cut their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Bank of America upped their price target on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Piper Sandler reissued an "overweight" rating and set a $328.00 price objective on shares of Amgen in a research note on Friday, June 27th. Finally, Mizuho lifted their price objective on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. One 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $303.76.

Amgen 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.