Northern Financial Advisors Inc Cuts Stock Holdings in Amgen Inc. $AMGN

Northern Financial Advisors Inc trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 9.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,475 shares of the medical research company’s stock after selling 345 shares during the period. Northern Financial Advisors Inc’s holdings in Amgen were worth $970,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AMGN. Nuveen LLC purchased a new position in Amgen during the first quarter valued at $688,868,000. Federated Hermes Inc. lifted its position in Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock valued at $634,680,000 after purchasing an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Amgen by 128.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock valued at $332,017,000 after purchasing an additional 600,096 shares during the last quarter. WoodTrust Financial Corp lifted its position in Amgen by 8,223.6% during the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock valued at $166,307,000 after purchasing an additional 588,478 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in Amgen during the second quarter valued at $156,812,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Amgen Trading Up 0.5%

Shares of AMGN opened at $295.54 on Wednesday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The company has a 50-day moving average of $287.04 and a 200 day moving average of $287.88. The firm has a market capitalization of $159.11 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 2.55 and a beta of 0.49. 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 announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the business posted $4.97 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. 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 report on Wednesday, September 24th. 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 report on Monday, August 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Amgen in a report on Saturday, September 27th. UBS Group lowered their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $309.42.

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.