HBK Sorce Advisory LLC Sells 2,036 Shares of Amgen Inc. $AMGN

by · The Cerbat Gem

HBK Sorce Advisory LLC trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 17.3% in the second quarter, HoldingsChannel reports. The firm owned 9,716 shares of the medical research company’s stock after selling 2,036 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Amgen were worth $2,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Brighton Jones LLC boosted its position in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after acquiring an additional 5,226 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Amgen by 5.5% in the first quarter. Golden State Wealth Management LLC now owns 1,933 shares of the medical research company’s stock valued at $602,000 after acquiring an additional 101 shares during the period. ABLE Financial Group LLC bought a new stake in shares of Amgen in the first quarter valued at about $200,000. Clear Creek Financial Management LLC boosted its position in shares of Amgen by 3.9% in the first quarter. Clear Creek Financial Management LLC now owns 2,158 shares of the medical research company’s stock valued at $672,000 after acquiring an additional 82 shares during the period. Finally, Arbor Trust Wealth Advisors LLC bought a new stake in shares of Amgen in the first quarter valued at about $215,000. 76.50% of the stock is owned by institutional investors.

Amgen Stock Down 0.1%

AMGN stock opened at $291.77 on Thursday. The company has a market cap of $157.08 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49. The business has a 50-day simple moving average of $287.73 and a 200 day simple moving average of $287.45. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN – Get Free Report) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen’s payout ratio is presently 77.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMGN. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday. Piper Sandler boosted their target price on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. UBS Group dropped their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Citigroup boosted their price target on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Finally, Morgan Stanley boosted their price target on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $300.94.

Get Our Latest Research Report on Amgen

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.76% of the company’s stock.

Amgen Company Profile

(Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.

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