SteelPeak Wealth LLC Sells 52,953 Shares of Amgen Inc. $AMGN

SteelPeak Wealth LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 37.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,339 shares of the medical research company’s stock after selling 52,953 shares during the quarter. Amgen makes up approximately 0.8% of SteelPeak Wealth LLC’s holdings, making the stock its 29th biggest position. SteelPeak Wealth LLC’s holdings in Amgen were worth $25,494,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of Amgen in the second quarter worth $27,000. CBIZ Investment Advisory Services LLC increased its position in Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 85 shares during the last quarter. Evelyn Partners Investment Management LLP purchased a new stake in shares of Amgen in the second quarter worth approximately $32,000. Howard Hughes Medical Institute purchased a new stake in shares of Amgen in the 2nd quarter worth approximately $32,000. Finally, Quaker Wealth Management LLC lifted its position in Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after acquiring an additional 240 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AMGN shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. BMO Capital Markets boosted their price objective on shares of Amgen from $335.00 to $372.00 and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of Amgen in a report on Tuesday, November 25th. Weiss Ratings restated a “buy (b)” rating on shares of Amgen in a report on Monday. Finally, Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $335.35.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the 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 completion of the transaction, the senior vice president directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the transaction, the senior vice president directly owned 7,082 shares in the company, valued at $2,381,251.68. This trade represents a 11.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,908 shares of company stock worth $3,674,966 in the last quarter. Corporate insiders own 0.76% of the company’s stock.

Amgen Trading Down 0.4%

NASDAQ AMGN opened at $327.31 on Friday. Amgen Inc. has a 52 week low of $257.05 and a 52 week high of $346.38. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The stock’s 50 day moving average price is $325.36 and its two-hundred day moving average price is $302.57. The stock has a market capitalization of $176.25 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 3.04 and a beta of 0.45.

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

Amgen Increases Dividend

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

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.