United Asset Strategies Inc. Cuts Stock Position in Amgen Inc. $AMGN

Key Points

• United Asset Strategies Inc. has reduced its holdings in Amgen Inc. by 6.4%, selling 2,080 shares, leaving them with 30,333 shares valued at approximately $9.45 million.
• Amgen's recent quarterly earnings exceeded expectations, reporting $6.02 per share against an anticipated $5.28, with total revenues of $9.18 billion, marking a 9.4% increase from the previous year.
• Analysts have a consensus rating of "Hold" for Amgen, with price targets ranging from $280 to $333, while the stock yields an annual dividend of $9.52.

United Asset Strategies Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,333 shares of the medical research company's stock after selling 2,080 shares during the quarter. United Asset Strategies Inc.'s holdings in Amgen were worth $9,450,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new stake in Amgen during the 4th quarter worth $26,000. First Pacific Financial boosted its stake in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in Amgen during the 4th quarter worth $36,000. South Plains Financial Inc. acquired a new stake in Amgen during the 4th quarter worth $37,000. Finally, Global Wealth Strategies & Associates boosted its stake in Amgen by 1,388.9% during the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Trading Down 0.7%

NASDAQ AMGN traded down $2.04 during trading hours on Friday, reaching $293.72. The company had a trading volume of 1,643,970 shares, compared to its average volume of 2,104,120. The stock has a 50-day moving average of $293.43 and a 200 day moving average of $293.17. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. 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 stock has a market capitalization of $158.13 billion, a P/E ratio of 24.02, a price-to-earnings-growth ratio of 2.53 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results 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 for the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter in the prior year, the company posted $4.97 earnings per share. Amgen'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. As a group, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMGN. Mizuho lifted their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Bank of America boosted their price target on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research report on Wednesday, July 23rd. Piper Sandler reissued an "overweight" rating and set a $328.00 price target on shares of Amgen in a research report on Friday, June 27th. Guggenheim assumed coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target on the stock. Finally, UBS Group lowered their price target on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of "Hold" and an average price target of $303.76.

Insider Transactions at Amgen

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

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.