Pallas Capital Advisors LLC Sells 535 Shares of Amgen Inc. $AMGN

Pallas Capital Advisors LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 11.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,071 shares of the medical research company’s stock after selling 535 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Amgen were worth $1,137,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Wealth Preservation Advisors LLC purchased a new stake in shares of Amgen during the 1st quarter valued at about $25,000. Pinney & Scofield Inc. bought a new stake in shares of Amgen during the 4th quarter valued at $26,000. First Pacific Financial grew its position in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 67 shares during the period. CBIZ Investment Advisory Services LLC increased its stake 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 worth $29,000 after purchasing an additional 85 shares in the last quarter. Finally, Activest Wealth Management raised its holdings in Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after purchasing an additional 103 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Citigroup increased their price objective on shares of Amgen from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Raymond James Financial began coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, UBS Group dropped their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. 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 stock. According to MarketBeat, Amgen currently has an average rating of “Hold” and an average target price of $304.43.

Amgen Trading Up 0.4%

NASDAQ:AMGN opened at $275.83 on Friday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17. The stock has a market cap of $148.50 billion, a P/E ratio of 22.55, a P/E/G ratio of 2.39 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a 50-day simple moving average of $290.76 and a 200-day simple moving average of $290.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping 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 firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter in the prior year, the business earned $4.97 EPS. Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.5%. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The stock was 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 of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.76% of the company’s stock.

Amgen Company 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.