Whitener Capital Management Inc. Has $1.62 Million Stock Holdings in Amgen Inc. $AMGN

Key Points

• Whitener Capital Management Inc. reduced its holdings in Amgen Inc. by 15.1%, owning 5,798 shares valued at $1.62 million after selling 1,035 shares during the second quarter.
• Amgen reported a quarterly EPS of $6.02, beating expectations and showing a 9.4% year-over-year revenue increase, amounting to $9.18 billion for the quarter.
• The company announced a quarterly dividend of $2.38, resulting in an annualized yield of 3.3% and a dividend payout ratio of 77.84%.

Whitener Capital Management Inc. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,798 shares of the medical research company's stock after selling 1,035 shares during the quarter. Whitener Capital Management Inc.'s holdings in Amgen were worth $1,619,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Forum Financial Management LP increased its holdings in Amgen by 0.7% during the 4th quarter. Forum Financial Management LP now owns 352,784 shares of the medical research company's stock worth $91,950,000 after purchasing an additional 2,411 shares in the last quarter. Vise Technologies Inc. increased its holdings in Amgen by 33.7% during the 4th quarter. Vise Technologies Inc. now owns 5,582 shares of the medical research company's stock worth $1,455,000 after purchasing an additional 1,406 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in Amgen during the 4th quarter worth about $47,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of Amgen by 43.9% in the 4th quarter. Sunbelt Securities Inc. now owns 6,723 shares of the medical research company's stock valued at $1,743,000 after acquiring an additional 2,051 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on 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 report on Wednesday, August 6th. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Morgan Stanley raised their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, Citigroup raised their price objective on Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Amgen has an average rating of "Hold" and an average target price of $304.43.

Amgen Stock Up 3.5%

Shares of AMGN opened at $285.41 on Friday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. The firm's 50 day moving average is $290.57 and its 200-day moving average is $290.48. The stock has a market capitalization of $153.65 billion, a PE ratio of 23.34, a P/E/G ratio of 2.48 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping 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 company had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. During the same period last year, the firm earned $4.97 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. 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 year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is 77.84%.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.76% of the stock is owned by company insiders.

About Amgen

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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