Revolve Wealth Partners LLC Sells 12,066 Shares of Amgen Inc. $AMGN

Revolve Wealth Partners LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 45.5% during the third quarter, HoldingsChannel.com reports. The fund owned 14,461 shares of the medical research company’s stock after selling 12,066 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Amgen were worth $4,081,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new stake in Amgen in the first quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted 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 buying an additional 85 shares during the last quarter. Evelyn Partners Investment Management LLP bought a new stake in shares of Amgen in the second quarter worth $32,000. Finally, Howard Hughes Medical Institute bought a new stake in shares of Amgen in the second quarter worth $32,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction dated 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 directly owned 7,225 shares of the company’s stock, valued at $2,436,703.50. This trade represents a 30.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 10,908 shares of company stock worth $3,674,966. Corporate insiders own 0.69% of the company’s stock.

Amgen Trading Up 1.2%

Amgen stock opened at $331.39 on Tuesday. Amgen Inc. has a 12-month low of $257.05 and a 12-month high of $346.38. The firm has a market capitalization of $178.45 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 3.11 and a beta of 0.45. The firm has a 50 day moving average of $320.10 and a 200 day moving average of $300.60. 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 (NASDAQ:AMGN) last posted its quarterly 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. The business 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 company’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be issued a $2.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $10.08 annualized dividend and a yield of 3.0%. This is an increase from Amgen’s previous quarterly dividend of $2.38. Amgen’s payout ratio is currently 73.57%.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent research reports. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Monday, December 15th. HSBC reiterated a “buy” rating and issued a $425.00 price objective on shares of Amgen in a research note on Wednesday, December 10th. Cantor Fitzgerald boosted their target price on shares of Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Daiwa Capital Markets upped their target price on shares of Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, ten 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 company has an average rating of “Moderate Buy” and an average target price of $332.85.

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.