Amgen Inc. $AMGN Shares Sold by Triangle Securities Wealth Management

Key Points

• Triangle Securities Wealth Management reduced its stake in Amgen by 17.0%, selling 1,163 shares, and now holds 5,660 shares valued at $1,580,000.
• Amgen reported $6.02 EPS for the last quarter, exceeding estimates of $5.28, with a revenue increase of 9.4% year-over-year.
• The company announced a quarterly dividend of $2.38 per share, reflecting an annual yield of 3.5% with a payout ratio of 77.84%.

Triangle Securities Wealth Management cut its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 17.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,660 shares of the medical research company's stock after selling 1,163 shares during the quarter. Triangle Securities Wealth Management's holdings in Amgen were worth $1,580,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in Amgen by 43,573.5% during 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 purchasing an additional 3,653,205 shares during the period. Nuveen LLC bought a new position in Amgen in the 1st quarter valued at $688,868,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Amgen in the fourth quarter valued at approximately $193,339,000. Federated Hermes Inc. lifted its stake in Amgen by 48.5% in the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company's stock worth $634,680,000 after acquiring an additional 665,555 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Amgen by 128.9% during the first 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 buying an additional 600,096 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's 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 sale, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.76% of the stock is owned by corporate insiders.

Amgen Stock Performance

Shares of AMGN traded up $9.58 during mid-day trading on Friday, reaching $285.41. 8,729,346 shares of the company's stock traded hands, compared to its average volume of 1,985,005. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. The stock has a market capitalization of $153.65 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 2.48 and a beta of 0.49. The business's 50-day moving average price is $290.57 and its 200-day moving average price is $290.48. 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 (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 (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the previous year, the company earned $4.97 EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMGN. 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 research report on Monday, August 25th. Bank of America upped 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. Raymond James Financial initiated coverage on Amgen in a research report on Wednesday, September 3rd. They issued a "market perform" rating for the company. UBS Group decreased their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Finally, Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Amgen has a consensus rating of "Hold" and an average price target of $304.43.

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.