Richardson Financial Services Inc. Cuts Stock Position in Amgen Inc. $AMGN

Richardson Financial Services Inc. lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 88.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 228 shares of the medical research company’s stock after selling 1,791 shares during the period. Richardson Financial Services Inc.’s holdings in Amgen were worth $66,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AMGN. OLD National Bancorp IN boosted its stake in Amgen by 296.2% in the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after acquiring an additional 13,460 shares during the last quarter. KPP Advisory Services LLC lifted its stake in Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after purchasing an additional 2,716 shares during the last quarter. Advisor Resource Council purchased a new stake in Amgen in the first quarter worth $1,331,000. Trinity Legacy Partners LLC increased its position in Amgen by 3.9% in the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after buying an additional 612 shares during the last quarter. Finally, DLK Investment Management LLC increased its position in Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock worth $6,384,000 after buying an additional 1,387 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent research reports. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Citigroup raised their target price on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Piper Sandler raised their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Cantor Fitzgerald reissued a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Finally, Raymond James Financial initiated coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $309.42.

Insider Transactions at Amgen

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. Corporate insiders own 0.76% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $290.13 on Friday. The stock has a market cap of $156.19 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two 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 stock has a fifty day moving average of $286.77 and a 200-day moving average of $287.55.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 174.71% and a net margin of 18.96%.The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business 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 disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

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.