Lloyd Advisory Services LLC. Cuts Holdings in Amgen Inc. (NASDAQ:AMGN) (2024)

Posted by Tech Dows on Jun 2nd, 2024

Lloyd Advisory Services LLC. reduced its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 83.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 826 shares of the medical research company’s stock after selling 4,131 shares during the quarter. Lloyd Advisory Services LLC.’s holdings in Amgen were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. BIP Wealth LLC raised its position in shares of Amgen by 2.6% in the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after buying an additional 32 shares during the period. Southland Equity Partners LLC raised its position in Amgen by 2.3% in the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after purchasing an additional 34 shares during the period. Acropolis Investment Management LLC raised its position in Amgen by 3.5% in the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 34 shares during the period. Opal Wealth Advisors LLC raised its position in Amgen by 1.9% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after purchasing an additional 34 shares during the period. Finally, Marino Stram & Associates LLC raised its position in Amgen by 0.7% in the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after purchasing an additional 34 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AMGN shares. The Goldman Sachs Group raised their price objective on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. Mizuho raised their target price on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. BMO Capital Markets raised their target price on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, UBS Group raised their target price on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $305.65.

Check Out Our Latest Report on Amgen

Amgen Trading Up 1.6 %

NASDAQ AMGN traded up $4.85 on Friday, hitting $305.85. 4,488,874 shares of the stock were exchanged, compared to its average volume of 2,728,028. The company’s 50-day moving average price is $287.82 and its two-hundred day moving average price is $286.79. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The company has a market capitalization of $164.07 billion, a price-to-earnings ratio of 43.69, a P/E/G ratio of 2.72 and a beta of 0.60.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same period in the previous year, the company posted $3.98 EPS. Amgen’s revenue was up 22.0% on a year-over-year basis. Research analysts predict that Amgen Inc. will post 19.47 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is 128.57%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.69% of the company’s stock.

About Amgen

(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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