Advisors Asset Management Inc. Has $31.31 Million Stock Position in Amgen Inc. $AMGN

Advisors Asset Management Inc. cut its stake in Amgen Inc. (NASDAQ:AMGN) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,126 shares of the medical research company’s stock after selling 2,426 shares during the period. Amgen comprises approximately 0.6% of Advisors Asset Management Inc.’s holdings, making the stock its 18th largest holding. Advisors Asset Management Inc.’s holdings in Amgen were worth $31,307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Laurel Wealth Advisors LLC boosted its stake in shares of 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 purchasing an additional 6,676,575 shares in the last quarter. Nuveen LLC bought a new stake in Amgen during the first quarter worth about $688,868,000. Vanguard Group Inc. increased its holdings 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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, Federated Hermes Inc. raised its stake in shares of Amgen by 48.5% in the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock valued at $634,680,000 after acquiring an additional 665,555 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 1.0%

NASDAQ:AMGN opened at $334.30 on Tuesday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $345.84. The stock has a 50-day moving average price of $302.19 and a two-hundred day moving average price of $293.02. The stock has a market cap of $180.01 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.61 and a beta of 0.45. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last posted 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. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. During the same period in the prior year, the business earned $5.58 EPS. Amgen’s revenue for the quarter was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 annualized dividend and a dividend yield of 2.8%. Amgen’s dividend payout ratio (DPR) is currently 73.57%.

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 that occurred on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the completion of the sale, the senior vice president owned 7,225 shares in the company, valued at $2,436,703.50. The trade was a 30.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,908 shares of company stock worth $3,674,966 over the last three months. Corporate insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of several research analyst reports. Raymond James Financial initiated coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Morgan Stanley reduced their price target on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. HSBC upped their target price on shares of Amgen from $343.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. The Goldman Sachs Group lowered their price target on shares of Amgen from $405.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Amgen currently has an average rating of “Hold” and a consensus target price of $320.86.

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.