Logan Capital Management Inc. Reduces Holdings in Amgen Inc. $AMGN

Logan Capital Management Inc. reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 10.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,313 shares of the medical research company’s stock after selling 2,707 shares during the quarter. Logan Capital Management Inc.’s holdings in Amgen were worth $6,230,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AMGN. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen during the first quarter worth $25,000. CBIZ Investment Advisory Services LLC raised its stake in Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after acquiring an additional 85 shares during the last quarter. Activest Wealth Management lifted its position in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after acquiring an additional 103 shares during the period. Nova Wealth Management Inc. lifted its position in Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock worth $38,000 after acquiring an additional 122 shares during the period. Finally, Bayforest Capital Ltd purchased a new stake in Amgen during the 1st quarter valued at about $41,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

AMGN opened at $291.16 on Tuesday. The firm has a fifty day moving average price of $287.89 and a 200 day moving average price of $287.33. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The stock has a market cap of $156.75 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.61 and a beta of 0.49. 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 (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share 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 analysts’ expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors 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 dividend on an annualized basis and a yield of 3.3%. Amgen’s dividend payout ratio is presently 77.84%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of research reports. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Bank of America lifted their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Piper Sandler upped their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. UBS Group reduced their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of Amgen from a “buy” rating to a “hold” rating in a report on Monday. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $300.94.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction that occurred on 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.