Investment Research & Advisory Group Inc. Cuts Holdings in Amgen Inc. $AMGN

Investment Research & Advisory Group Inc. trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 30.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 481 shares of the medical research company’s stock after selling 208 shares during the period. Investment Research & Advisory Group Inc.’s holdings in Amgen were worth $134,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AMGN. KPP Advisory Services LLC boosted its holdings in shares of Amgen by 87.1% in the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock worth $1,817,000 after buying an additional 2,716 shares during the last quarter. Advisor Resource Council purchased a new position in Amgen in the first quarter valued at about $1,331,000. Trinity Legacy Partners LLC grew its position in shares of Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after acquiring an additional 612 shares during the period. DLK Investment Management LLC grew its position in shares of Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after acquiring an additional 1,387 shares during the period. Finally, Founders Financial Alliance LLC lifted its stake in Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of several research reports. UBS Group lowered their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Morgan Stanley increased their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Citigroup lifted their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Finally, Bank of America upped their price target on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $309.70.

Amgen Trading Up 0.7%

Shares of AMGN opened at $272.98 on Monday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. The stock has a market cap of $146.96 billion, a PE ratio of 22.32, a P/E/G ratio of 2.37 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The business’s 50-day moving average price is $288.86 and its 200-day moving average price is $288.89.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion during 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%. Amgen’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.5%. Amgen’s dividend payout ratio is presently 77.84%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.69% of the company’s stock.

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.