Pacific Sage Partners LLC Sells 64 Shares of Amgen Inc. $AMGN

Pacific Sage Partners LLC cut its stake in Amgen Inc. (NASDAQ:AMGN) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,247 shares of the medical research company’s stock after selling 64 shares during the period. Pacific Sage Partners LLC’s holdings in Amgen were worth $1,465,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Magnus Financial Group LLC boosted its holdings in Amgen by 20.1% in the 2nd quarter. Magnus Financial Group LLC now owns 1,453 shares of the medical research company’s stock valued at $406,000 after purchasing an additional 243 shares during the period. Plancorp LLC boosted its holdings in Amgen by 2.7% in the 2nd quarter. Plancorp LLC now owns 3,156 shares of the medical research company’s stock valued at $881,000 after purchasing an additional 84 shares during the period. Sylvest Advisors LLC boosted its holdings in Amgen by 14.3% in the 2nd quarter. Sylvest Advisors LLC now owns 3,163 shares of the medical research company’s stock valued at $883,000 after purchasing an additional 396 shares during the period. Exeter Financial LLC boosted its holdings in Amgen by 0.7% in the 2nd quarter. Exeter Financial LLC now owns 11,679 shares of the medical research company’s stock valued at $3,261,000 after purchasing an additional 79 shares during the period. Finally, LeConte Wealth Management LLC bought a new stake in Amgen in the 2nd quarter valued at $217,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent research reports. UBS Group dropped their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Piper Sandler increased their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Citigroup increased their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Amgen has an average rating of “Hold” and an average price target of $309.15.

Amgen Trading Down 2.6%

Shares of Amgen stock opened at $279.22 on Thursday. The stock has a market capitalization of $150.32 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 2.49 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The company has a 50-day simple moving average of $289.84 and a 200 day simple moving average of $289.92. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88.

Amgen (NASDAQ:AMGN) last announced its 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 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 last year, the company posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.4%. Amgen’s dividend payout ratio (DPR) is 77.84%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The shares were 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 in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.76% of the stock is owned by company insiders.

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.