Financial Advocates Investment Management Has $800,000 Stake in Amgen Inc. $AMGN

Financial Advocates Investment Management reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 65.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,865 shares of the medical research company’s stock after selling 5,431 shares during the period. Financial Advocates Investment Management’s holdings in Amgen were worth $800,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Wealth Preservation Advisors LLC acquired a new position in Amgen during the first quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after buying an additional 85 shares during the last quarter. Evelyn Partners Investment Management LLP acquired a new stake in shares of Amgen in the 2nd quarter valued at approximately $32,000. Finally, Activest Wealth Management grew its stake in shares of Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after buying an additional 103 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the sale, the executive vice president directly owned 41,923 shares in the company, valued at approximately $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the sale, the senior vice president directly owned 7,225 shares in the company, valued at $2,436,703.50. This represents a 30.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 10,908 shares of company stock worth $3,674,966. Corporate insiders own 0.76% of the company’s stock.

Amgen Trading Up 1.0%

Shares of NASDAQ:AMGN opened at $344.57 on Thursday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $345.84. The business has a 50 day moving average of $304.95 and a 200-day moving average of $293.90. 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 stock has a market cap of $185.54 billion, a PE ratio of 28.17, a P/E/G ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. During the same quarter last year, the company earned $5.58 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, November 21st. Amgen’s payout ratio is presently 73.57%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Truist Financial began coverage on shares of Amgen in a research report on Monday. They set a “hold” rating and a $318.00 price target on the stock. Cantor Fitzgerald raised their target price on shares of Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Daiwa Capital Markets boosted their price target on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Morgan Stanley cut their price objective on Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Finally, HSBC lifted their target price on Amgen from $343.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $333.74.

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.