Legal Advantage Investments Inc. Sells 225 Shares of Amgen Inc. $AMGN

Legal Advantage Investments Inc. lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 7.2% during the second quarter, HoldingsChannel reports. The firm owned 2,883 shares of the medical research company’s stock after selling 225 shares during the quarter. Legal Advantage Investments Inc.’s holdings in Amgen were worth $805,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMGN. Nuveen LLC bought a new stake in shares of Amgen during the 1st quarter worth approximately $688,868,000. Federated Hermes Inc. raised its stake in shares of Amgen by 48.5% during the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock worth $634,680,000 after purchasing an additional 665,555 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Amgen by 128.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after purchasing an additional 600,096 shares in the last quarter. WoodTrust Financial Corp raised its stake in shares of Amgen by 8,223.6% during the 2nd quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock worth $166,307,000 after purchasing an additional 588,478 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of Amgen during the 2nd quarter worth approximately $156,812,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMGN shares. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley increased their price target on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Citigroup increased their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Finally, Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $309.42.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the 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 transaction, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is owned by insiders.

Amgen Stock Down 1.8%

AMGN stock opened at $290.13 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. The stock has a market capitalization of $156.19 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.52 and a beta of 0.49. The business’s fifty day moving average price is $286.77 and its two-hundred day moving average price is $287.55. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two 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, topping the consensus estimate 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 company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

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

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.