Argyle Capital Management LLC Cuts Holdings in Amgen Inc. $AMGN

Argyle Capital Management LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,371 shares of the medical research company’s stock after selling 200 shares during the period. Amgen comprises about 2.0% of Argyle Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. Argyle Capital Management LLC’s holdings in Amgen were worth $5,409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Moseley Investment Management Inc. lifted its holdings in Amgen by 4.6% in the second quarter. Moseley Investment Management Inc. now owns 6,730 shares of the medical research company’s stock worth $1,879,000 after acquiring an additional 295 shares during the last quarter. Stonebridge Financial Group LLC lifted its holdings in Amgen by 3.3% in the second quarter. Stonebridge Financial Group LLC now owns 13,652 shares of the medical research company’s stock worth $3,812,000 after acquiring an additional 442 shares during the last quarter. Horizon Bancorp Inc. IN bought a new position in Amgen in the second quarter worth about $265,000. IFP Advisors Inc lifted its holdings in Amgen by 7.0% in the second quarter. IFP Advisors Inc now owns 7,394 shares of the medical research company’s stock worth $2,132,000 after acquiring an additional 483 shares during the last quarter. Finally, Callan Family Office LLC lifted its holdings in Amgen by 110.5% in the second quarter. Callan Family Office LLC now owns 30,956 shares of the medical research company’s stock worth $8,643,000 after acquiring an additional 16,247 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s 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 completion of 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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Amgen Trading Up 0.3%

Amgen stock opened at $295.43 on Friday. 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 firm has a market cap of $159.05 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 2.56 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The firm’s 50 day moving average price is $286.91 and its two-hundred day moving average price is $287.79.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal 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. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMGN. Raymond James Financial began coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. UBS Group cut their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Morgan Stanley lifted their price target on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Finally, Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.