Blue Trust Inc. Lowers Holdings in Amgen Inc. $AMGN

Blue Trust Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 18.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,281 shares of the medical research company’s stock after selling 527 shares during the quarter. Blue Trust Inc.’s holdings in Amgen were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fourpath Capital Management LLC raised its stake in shares of Amgen by 7.9% in the second quarter. Fourpath Capital Management LLC now owns 3,837 shares of the medical research company’s stock worth $1,071,000 after purchasing an additional 282 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of Amgen by 10.4% during the second quarter. Cyndeo Wealth Partners LLC now owns 24,954 shares of the medical research company’s stock valued at $6,967,000 after purchasing an additional 2,343 shares during the last quarter. 3Chopt Investment Partners LLC lifted its position in Amgen by 10.2% during the second quarter. 3Chopt Investment Partners LLC now owns 1,399 shares of the medical research company’s stock valued at $391,000 after purchasing an additional 130 shares during the period. Birch Capital Management LLC boosted its holdings in Amgen by 2.3% in the second quarter. Birch Capital Management LLC now owns 24,331 shares of the medical research company’s stock worth $6,794,000 after purchasing an additional 543 shares during the last quarter. Finally, Moseley Investment Management Inc. grew its position in Amgen by 4.6% in the 2nd quarter. Moseley Investment Management Inc. now owns 6,730 shares of the medical research company’s stock worth $1,879,000 after purchasing an additional 295 shares during the period. 76.50% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Performance

NASDAQ:AMGN opened at $290.13 on Monday. 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 simple moving average of $286.77 and a two-hundred day simple moving average of $287.43. The firm has a market capitalization of $156.19 billion, a PE ratio of 23.72, a P/E/G ratio of 2.52 and a beta of 0.49. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88.

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

Amgen Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on AMGN shares. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Citigroup upped their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Finally, Morgan Stanley upped their price target on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Amgen presently has an average rating of “Hold” and an average price target of $309.42.

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.