CHB Investment Group LLC Cuts Holdings in Amgen Inc. $AMGN

CHB Investment Group LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 48.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,385 shares of the medical research company’s stock after selling 5,031 shares during the period. CHB Investment Group LLC’s holdings in Amgen were worth $1,504,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AMGN. Brighton Jones LLC increased its stake in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares in the last quarter. United Advisor Group LLC purchased a new position in Amgen in the 4th quarter valued at approximately $308,000. Armis Advisers LLC purchased a new position in Amgen in the 4th quarter valued at approximately $251,000. Heck Capital Advisors LLC purchased a new position in Amgen in the 4th quarter valued at approximately $36,000. Finally, Virtue Capital Management LLC increased its position in Amgen by 14.0% during the fourth quarter. Virtue Capital Management LLC now owns 775 shares of the medical research company’s stock worth $202,000 after buying an additional 95 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 0.3%

Shares of AMGN opened at $286.81 on Wednesday. The stock’s 50-day moving average is $290.23 and its two-hundred day moving average is $290.00. The stock has a market cap of $154.41 billion, a PE ratio of 23.45, a P/E/G ratio of 2.48 and a beta of 0.49. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. 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 issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The company 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 firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.69% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent research reports. Morgan Stanley raised their price target on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. UBS Group dropped their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Citigroup upped their price objective on shares of Amgen from $305.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Finally, Raymond James Financial initiated coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $304.43.

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.