Sequoia Financial Advisors LLC Has $45.33 Million Position in Amgen Inc. $AMGN

Sequoia Financial Advisors LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,646 shares of the medical research company’s stock after acquiring an additional 3,619 shares during the period. Sequoia Financial Advisors LLC’s holdings in Amgen were worth $45,334,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Amgen by 1.6% during the second quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock worth $14,996,807,000 after buying an additional 841,117 shares during the last quarter. State Street Corp lifted its stake in Amgen by 0.6% during the 2nd quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock valued at $8,196,775,000 after acquiring an additional 177,035 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Amgen by 2.3% during the second quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock worth $3,619,489,000 after acquiring an additional 291,271 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Amgen by 5.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock valued at $3,600,043,000 after acquiring an additional 687,735 shares during the last quarter. Finally, Laurel Wealth Advisors LLC grew its stake in Amgen by 27,765.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after buying an additional 6,676,575 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the transaction, the senior vice president directly owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 3,139 shares of the business’s stock in a transaction 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 transaction, the senior vice president owned 7,225 shares in the company, valued at approximately $2,436,703.50. The trade was a 30.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders 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

Shares of NASDAQ:AMGN opened at $330.41 on Friday. The stock has a market capitalization of $177.92 billion, a P/E ratio of 25.53, a P/E/G ratio of 2.94 and a beta of 0.45. The business has a 50-day moving average of $331.56 and a two-hundred day moving average of $306.12. Amgen Inc. has a fifty-two week low of $261.43 and a fifty-two week high of $346.38. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be given 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 77.90%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Piper Sandler boosted their target price 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 research note on Monday, December 29th. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 15th. Wells Fargo & Company boosted their price target on Amgen from $300.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Finally, Guggenheim lifted their target price on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.45.

Amgen Company Profile

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.