Andra AP fonden Trims Holdings in Amgen Inc. $AMGN

Andra AP fonden decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 79.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,600 shares of the medical research company’s stock after selling 45,900 shares during the period. Andra AP fonden’s holdings in Amgen were worth $3,239,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Amgen by 0.3% during the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after purchasing an additional 148,658 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Amgen by 6.0% during the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock valued at $1,521,339,000 after purchasing an additional 274,488 shares during the period. Goldman Sachs Group Inc. raised its position in Amgen by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock worth $1,387,695,000 after acquiring an additional 243,306 shares during the period. Deutsche Bank AG grew its holdings in Amgen by 1.6% during the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock valued at $1,017,525,000 after purchasing an additional 52,734 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Amgen by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock worth $940,989,000 after acquiring an additional 22,820 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Bank of America lifted their target price on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Morgan Stanley lowered their target price on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a report on Wednesday. Piper Sandler reiterated an “overweight” rating on shares of Amgen in a research report on Wednesday. Wells Fargo & Company lifted their target price on Amgen from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Cantor Fitzgerald boosted their price objective on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $308.83.

Amgen Stock Up 1.5%

Amgen stock opened at $320.20 on Friday. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The business’s 50-day simple moving average is $289.94 and its two-hundred day simple moving average is $288.50. The company has a market cap of $172.38 billion, a PE ratio of 26.18, a PEG ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. 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. Equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a yield of 3.0%. Amgen’s dividend payout ratio is 73.57%.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value 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. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.76% of the company’s stock.

Amgen Company Profile

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.