Transcend Capital Advisors LLC Decreases Stake in Amgen Inc. $AMGN

Transcend Capital Advisors LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 15.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,353 shares of the medical research company’s stock after selling 1,176 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Amgen were worth $1,774,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Fairvoy Private Wealth LLC boosted its stake in shares of Amgen by 1.1% in the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after buying an additional 35 shares in the last quarter. Nicholson Wealth Management Group LLC boosted its stake in shares of Amgen by 0.6% in the second quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock valued at $1,652,000 after buying an additional 35 shares in the last quarter. Crumly & Associates Inc. boosted its stake in shares of Amgen by 3.2% in the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after buying an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. boosted its position in Amgen by 5.2% during the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock worth $204,000 after purchasing an additional 36 shares in the last quarter. Finally, Lion Street Advisors LLC boosted its position in Amgen by 1.3% during the second quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock worth $774,000 after purchasing an additional 36 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on AMGN shares. UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a research report on Monday. Piper Sandler boosted 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. Finally, Citigroup boosted 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. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and an average price target of $300.94.

Amgen Stock Down 0.2%

Shares of NASDAQ:AMGN opened at $291.16 on Tuesday. The company has a market capitalization 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 stock’s fifty day simple moving average is $287.89 and its 200-day simple moving average is $287.33. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio is presently 77.84%.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.