Narwhal Capital Management Lowers Stake in Amgen Inc. $AMGN

Narwhal Capital Management lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 76.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,170 shares of the medical research company’s stock after selling 3,886 shares during the period. Narwhal Capital Management’s holdings in Amgen were worth $327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Dohj LLC raised its position in shares of Amgen by 60.0% during the 2nd quarter. Dohj LLC now owns 5,963 shares of the medical research company’s stock valued at $1,657,000 after buying an additional 2,236 shares in the last quarter. Castle Rock Wealth Management LLC raised its position in shares of Amgen by 50.7% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 8,708 shares of the medical research company’s stock valued at $2,571,000 after buying an additional 2,931 shares in the last quarter. Nelson Capital Management LLC raised its position in shares of Amgen by 1.9% during the 2nd quarter. Nelson Capital Management LLC now owns 15,005 shares of the medical research company’s stock valued at $4,190,000 after buying an additional 282 shares in the last quarter. WoodTrust Financial Corp raised its position 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 valued at $166,307,000 after buying an additional 588,478 shares in the last quarter. Finally, Citizens National Bank Trust Department raised its position in shares of Amgen by 0.8% during the 2nd quarter. Citizens National Bank Trust Department now owns 9,490 shares of the medical research company’s stock valued at $2,650,000 after buying an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AMGN. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Bank of America increased their target price on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. UBS Group reduced their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus target price of $309.42.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is currently owned by company insiders.

Amgen Price Performance

AMGN stock opened at $294.62 on Thursday. The firm has a market cap of $158.61 billion, a P/E ratio of 24.09, a P/E/G ratio of 2.57 and a beta of 0.49. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. 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’s fifty day moving average is $286.90 and its 200 day moving average is $287.93.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The business 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 company’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is 77.84%.

Amgen 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.