Amgen Inc. $AMGN Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 38.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,677 shares of the medical research company’s stock after selling 6,677 shares during the period. Miracle Mile Advisors LLC’s holdings in Amgen were worth $3,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. IAM Advisory LLC increased its position in Amgen by 2.2% during the 3rd quarter. IAM Advisory LLC now owns 7,456 shares of the medical research company’s stock worth $2,104,000 after purchasing an additional 162 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Amgen by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 69,760 shares of the medical research company’s stock worth $20,823,000 after purchasing an additional 4,323 shares in the last quarter. Stonebridge Financial Group LLC lifted its stake in shares of Amgen by 1.3% in the third quarter. Stonebridge Financial Group LLC now owns 13,834 shares of the medical research company’s stock valued at $3,904,000 after purchasing an additional 182 shares during the period. Fortress Financial Solutions LLC grew its position in Amgen by 15.9% during the third quarter. Fortress Financial Solutions LLC now owns 1,315 shares of the medical research company’s stock worth $371,000 after buying an additional 180 shares during the period. Finally, Shum Financial Group Inc. purchased a new position in Amgen in the 3rd quarter valued at approximately $282,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the transaction, the executive vice president directly owned 41,923 shares in the company, valued at $14,120,924.09. This represents a 14.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at $2,436,703.50. The trade was a 30.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,908 shares of company stock valued at $3,674,966 in the last quarter. 0.76% of the stock is currently owned by insiders.

Amgen Trading Down 0.4%

AMGN stock opened at $327.31 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. The business’s 50 day moving average is $325.36 and its 200-day moving average is $302.57. Amgen Inc. has a 1-year low of $257.05 and a 1-year high of $346.38. The firm has a market cap of $176.25 billion, a P/E ratio of 25.29, a P/E/G ratio of 3.04 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.01 by $0.63. The business 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 quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be issued a dividend of $2.52 per share. This is a boost from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a yield of 3.1%. Amgen’s dividend payout ratio is currently 73.57%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Piper Sandler lifted their price objective on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Weiss Ratings restated a “buy (b)” rating on shares of Amgen in a report on Monday. Erste Group Bank upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. DZ Bank raised their target price on shares of Amgen from $335.00 to $364.00 in a report on Monday, November 10th. Finally, Truist Financial began coverage on shares of Amgen in a research report on Monday, November 24th. They issued a “hold” rating and a $318.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $335.35.

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.