Amgen Inc. $AMGN Shares Sold by Nova R Wealth Inc.

Nova R Wealth Inc. lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 72.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,997 shares of the medical research company’s stock after selling 5,128 shares during the quarter. Nova R Wealth Inc.’s holdings in Amgen were worth $564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wealth Quarterback LLC boosted its holdings in shares of Amgen by 1.6% in the third quarter. Wealth Quarterback LLC now owns 2,210 shares of the medical research company’s stock valued at $624,000 after acquiring an additional 34 shares in the last quarter. Fairvoy Private Wealth LLC lifted its position in Amgen by 1.1% in the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock worth $885,000 after purchasing an additional 35 shares during the period. Nicholson Wealth Management Group LLC boosted its stake in Amgen by 0.6% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock valued at $1,652,000 after purchasing an additional 35 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Amgen by 4.1% during the 3rd quarter. LS Investment Advisors LLC now owns 885 shares of the medical research company’s stock valued at $250,000 after purchasing an additional 35 shares during the period. Finally, Crown Wealth Group LLC raised its stake in shares of Amgen by 4.0% in the 3rd quarter. Crown Wealth Group LLC now owns 910 shares of the medical research company’s stock worth $257,000 after buying an additional 35 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Activity

In other news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were 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 of the company’s stock, valued at $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the sale, the senior vice president owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,908 shares of company stock worth $3,674,966 in the last 90 days. Company insiders own 0.76% of the company’s stock.

Amgen Stock Down 3.4%

AMGN stock opened at $330.11 on Friday. The company’s 50 day simple moving average is $329.19 and its 200-day simple moving average is $303.93. The firm has a market capitalization of $177.76 billion, a P/E ratio of 25.51, a P/E/G ratio of 3.11 and a beta of 0.45. Amgen Inc. has a 52-week low of $260.55 and a 52-week high of $346.38. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping the consensus estimate of $5.01 by $0.63. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. Amgen’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be paid a dividend of $2.52 per share. This is a boost from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date of this dividend is Friday, February 13th. This represents a $10.08 annualized dividend and a yield of 3.1%. Amgen’s dividend payout ratio (DPR) is presently 73.57%.

Analyst Ratings Changes

A number of research firms recently issued reports on AMGN. Guggenheim lifted their target price on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amgen in a research note on Monday, December 29th. Wells Fargo & Company boosted their target price on shares of Amgen from $300.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. Piper Sandler raised their target price on shares of Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Cantor Fitzgerald lifted their price target on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $338.55.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.