Pine Valley Investments Ltd Liability Co sells 237 shares of Amgen Inc. (NASDAQ:AMGN)

VaselineSeptember 2, 2024

0 4 minutes read

Pine Valley Investments Ltd Liability Co decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 4.8% during the second quarter, Holdings Channel.com reports. The firm owned 4,752 shares of the medical research company’s stock after selling 237 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Amgen were worth $1,485,000 as of its most recent SEC filing.

A number of other institutional investors have recently added to or reduced their stakes in the company. Searle & CO. acquired a new stake in Amgen in the second quarter valued at about $2,256,000. Hantz Financial Services Inc. purchased a new stake in Amgen in the second quarter valued at about $343,000. Arrow Financial Corp boosted its stake in Amgen by 36.9% in the second quarter. Arrow Financial Corp now owns 13,065 shares of the medical research company’s stock valued at $4,082,000 after purchasing an additional 3,524 shares during the last quarter. Kings Path Partners LLC purchased a new stake in Amgen in the second quarter valued at about $1,365,000. Finally, GoalVest Advisory LLC boosted its stake in Amgen by 27.0% in the second quarter. GoalVest Advisory LLC now owns 682 shares of the medical research company’s stock valued at $213,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 76.50% of the company’s shares.

Amgen stock down 0.9%

Shares of AMGN opened at $333.83 on Friday. The stock has a 50-day moving average of $324.99 and a 200-day moving average of $300.71. The company has a current ratio of 1.42, a quick ratio of 0.98, and a debt-to-equity ratio of 11.96. The stock has a market cap of $179.08 billion, a P/E ratio of 47.69, a P/E/G ratio of 2.78 and a beta of 0.58. Amgen Inc. has a twelve month low of $248.38 and a twelve month high of $346.85.

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Amgen (NASDAQ:AMGN – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the previous year, the company posted earnings of $5.00 per share. The company’s revenue for the quarter was up 20.1% year-over-year. As a group, sell-side analysts expect Amgen Inc. to record 19.5 EPS for the current year.

Amgen announces dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a $2.25 dividend. This represents an annualized dividend of $9.00 and a yield of 2.70%. The ex-dividend date of this dividend was Friday, August 16. Amgen’s payout ratio is currently 128.57%.

Analysts set new price targets

A number of equities research analysts have commented on AMGN shares. TD Cowen boosted their price target on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley reduced their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Oppenheimer restated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Mizuho boosted their price objective on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Finally, Royal Bank of Canada raised their price objective on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. . Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.89, according to MarketBeat.

Get the latest stock report on Amgen

About Amgen

(Free report)

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