SYM FINANCIAL Corp Lowers Holdings in Amgen Inc. $AMGN

SYM FINANCIAL Corp reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 57.7% in the third quarter, Holdings Channel reports. The firm owned 1,155 shares of the medical research company’s stock after selling 1,574 shares during the period. SYM FINANCIAL Corp’s holdings in Amgen were worth $326,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new stake in Amgen in the second quarter valued at approximately $27,000. Evelyn Partners Investment Management LLP purchased a new stake in shares of Amgen during the 2nd quarter valued at $32,000. Howard Hughes Medical Institute bought a new stake in shares of Amgen during the 2nd quarter worth $32,000. Quaker Wealth Management LLC grew its position in Amgen by 200.0% in the second 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 in the last quarter. Finally, Cloud Capital Management LLC bought a new position in Amgen in the third quarter valued at $34,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the company’s 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 owned 7,225 shares in the company, valued at $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the sale, the executive vice president directly owned 41,923 shares of the company’s stock, valued at $14,120,924.09. The trade was a 14.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 10,908 shares of company stock valued at $3,674,966. Company insiders own 0.76% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $341.88 on Friday. The stock has a market capitalization of $184.10 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 3.02 and a beta of 0.45. The firm’s 50-day moving average price is $332.60 and its two-hundred day moving average price is $309.22. 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 $353.25.

Amgen (NASDAQ:AMGN) last posted its 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. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same period in the prior year, the business posted $5.58 earnings per share. Amgen’s revenue for the quarter was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current 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 given a $2.52 dividend. The ex-dividend date is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio is 73.57%.

Analyst Ratings Changes

AMGN has been the subject of several research analyst reports. Morgan Stanley dropped their price target on Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, December 12th. Piper Sandler upped their target price on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Cantor Fitzgerald increased their price target 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Finally, DZ Bank upped their price objective on shares of Amgen from $335.00 to $364.00 in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $342.45.

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.