Courier Capital LLC Reduces Stake in Amgen Inc. $AMGN

Courier Capital LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 0.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 15,805 shares of the medical research company’s stock after selling 55 shares during the period. Courier Capital LLC’s holdings in Amgen were worth $4,413,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Sagespring Wealth Partners LLC grew its holdings in Amgen by 12.0% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 13,616 shares of the medical research company’s stock valued at $3,802,000 after buying an additional 1,454 shares in the last quarter. Equitable Trust Co. grew its holdings in Amgen by 3.1% in the 2nd quarter. Equitable Trust Co. now owns 4,991 shares of the medical research company’s stock valued at $1,394,000 after buying an additional 150 shares in the last quarter. Frazier Financial Advisors LLC grew its holdings in Amgen by 44.5% in the 2nd quarter. Frazier Financial Advisors LLC now owns 513 shares of the medical research company’s stock valued at $143,000 after buying an additional 158 shares in the last quarter. Morningstar Investment Management LLC purchased a new stake in Amgen in the 2nd quarter valued at $1,140,000. Finally, RFG Advisory LLC grew its holdings in Amgen by 9.4% in the 2nd quarter. RFG Advisory LLC now owns 12,176 shares of the medical research company’s stock valued at $3,400,000 after buying an additional 1,047 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of Amgen stock opened at $292.40 on Tuesday. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market capitalization of $157.42 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49. The business has a 50-day moving average of $286.58 and a 200 day moving average of $287.33. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88.

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, beating analysts’ consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business 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. 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 3.3%. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AMGN shares. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a report on Saturday. Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Bank of America increased their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average price target of $309.42.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president owned 7,209 shares of the company’s stock, valued at $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 available at this link. 0.69% of the stock is owned by corporate 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.