Sequoia Financial Advisors LLC Acquires 3,619 Shares of Amgen Inc. $AMGN

Sequoia Financial Advisors LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 160,646 shares of the medical research company’s stock after buying an additional 3,619 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Amgen were worth $45,334,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AMGN. Legacy Investment Solutions LLC purchased a new stake in Amgen in the 2nd quarter valued at about $27,000. Evelyn Partners Investment Management LLP purchased a new stake in shares of Amgen in the second quarter worth about $32,000. Howard Hughes Medical Institute purchased a new position in Amgen during the second quarter valued at approximately $32,000. Quaker Wealth Management LLC lifted its stake in Amgen by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after purchasing an additional 240 shares in the last quarter. Finally, Nvwm LLC grew its position in shares of Amgen by 893.3% during the 2nd quarter. Nvwm LLC now owns 149 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 134 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AMGN. Bank of America lifted their target price on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Cantor Fitzgerald upped their price objective 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. Weiss Ratings reissued a “buy (b)” rating on shares of Amgen in a research note on Monday, December 29th. BMO Capital Markets raised their target price on shares of Amgen from $335.00 to $372.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Finally, Erste Group Bank raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $339.45.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 890 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the sale, the senior vice president directly owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares in the company, valued at approximately $2,436,703.50. This trade represents a 30.29% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 10,908 shares of company stock valued at $3,674,966. 0.76% of the stock is owned by corporate insiders.

Amgen Trading Up 0.1%

Shares of AMGN stock opened at $330.41 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45. Amgen Inc. has a 12-month low of $261.43 and a 12-month high of $346.38. The stock has a market capitalization of $177.92 billion, a P/E ratio of 25.53, a P/E/G ratio of 2.94 and a beta of 0.45. The firm’s 50 day moving average is $331.56 and its 200 day moving average is $306.12.

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

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be given a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, February 13th. This is an increase from Amgen’s previous quarterly dividend of $2.38. Amgen’s payout ratio is presently 77.90%.

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.