Vident Advisory LLC Trims Position in Amgen Inc. $AMGN

Key Points

• Vident Advisory LLC reduced its stake in Amgen Inc. by 7.7% during the first quarter, ending the period with $5.56 million in holdings.
• Several institutional investors, including KPP Advisory Services LLC and Trinity Legacy Partners LLC, have made significant changes to their positions in Amgen, reflecting a trend of varying investor sentiments.
• Amgen's stock opened at $287.71, with a market cap of approximately $154.89 billion and a recent quarterly earnings report showing a notable increase in revenue year-over-year.

Vident Advisory LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,849 shares of the medical research company's stock after selling 1,482 shares during the period. Vident Advisory LLC's holdings in Amgen were worth $5,562,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen during the 1st quarter valued at about $25,000. Pinney & Scofield Inc. bought a new stake in shares of Amgen during the 4th quarter valued at about $26,000. First Pacific Financial boosted its stake in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Amgen during the 4th quarter valued at about $36,000. Finally, Global Wealth Strategies & Associates boosted its stake in shares of Amgen by 1,388.9% during the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock valued at $42,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Amgen Stock Performance

Shares of AMGN traded down $3.07 during mid-day trading on Wednesday, hitting $283.85. 2,579,866 shares of the company traded hands, compared to its average volume of 2,797,854. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a 50-day moving average price of $293.63 and a two-hundred day moving average price of $292.81. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17. The stock has a market cap of $152.81 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 2.50 and a beta of 0.49.

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

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio is currently 77.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMGN shares. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Piper Sandler boosted their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Citigroup boosted their price objective on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $304.43.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.

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.