Optimum Investment Advisors Reduces Stake in Amgen Inc. $AMGN

Optimum Investment Advisors reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 10.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,106 shares of the medical research company’s stock after selling 130 shares during the quarter. Optimum Investment Advisors’ holdings in Amgen were worth $309,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMGN. Wealth Preservation Advisors LLC purchased a new stake in shares of Amgen during the 1st quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after buying an additional 85 shares in the last quarter. Activest Wealth Management lifted its stake in shares of Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after buying an additional 103 shares in the last quarter. Nova Wealth Management Inc. lifted its stake in shares of Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after buying an additional 122 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in shares of Amgen during the 1st quarter valued at approximately $41,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of analyst reports. UBS Group decreased their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Citigroup upped their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Amgen in a report on Friday. Raymond James Financial initiated coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. Six 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 a consensus price target of $300.94.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $291.76 on Friday. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The company’s fifty day moving average price is $287.92 and its 200-day moving average price is $287.36. The firm has a market capitalization of $157.07 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS 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 company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the firm earned $4.97 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the 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 transaction, the senior vice president 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.76% of the company’s stock.

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.