Gemmer Asset Management LLC Has $375,000 Stock Holdings in Amgen Inc. $AMGN

Gemmer Asset Management LLC cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,344 shares of the medical research company’s stock after selling 46 shares during the period. Gemmer Asset Management LLC’s holdings in Amgen were worth $375,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Iron Horse Wealth Management LLC boosted its position in Amgen by 74.8% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 243 shares of the medical research company’s stock worth $68,000 after buying an additional 104 shares during the period. Simplicity Wealth LLC boosted its position in Amgen by 310.4% during the 2nd quarter. Simplicity Wealth LLC now owns 5,138 shares of the medical research company’s stock worth $1,434,000 after buying an additional 3,886 shares during the period. Brown Miller Wealth Management LLC boosted its position in Amgen by 4.2% during the 2nd quarter. Brown Miller Wealth Management LLC now owns 7,844 shares of the medical research company’s stock worth $2,190,000 after buying an additional 317 shares during the period. OLD National Bancorp IN lifted its position in shares of Amgen by 296.2% in the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after purchasing an additional 13,460 shares during the period. Finally, Carolina Wealth Advisors LLC lifted its position in shares of Amgen by 1,100.0% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 264 shares of the medical research company’s stock worth $74,000 after purchasing an additional 242 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN stock opened at $297.89 on Friday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The firm has a market capitalization of $160.37 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.59 and a beta of 0.49. The firm has a fifty day simple moving average of $287.34 and a two-hundred day simple moving average of $288.17.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $8.86 billion. During the same quarter in the prior year, the business posted $4.97 EPS. The business’s 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. Analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid 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 dividend payout ratio is presently 77.84%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AMGN shares. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. UBS Group dropped their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Bank of America boosted their price target on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Citigroup boosted their price target on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, Morgan Stanley boosted their price target on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $309.70.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction on 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 $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.76% of the stock is currently owned by 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.