Boston Trust Walden Corp Lowers Holdings in Amgen Inc. $AMGN

Boston Trust Walden Corp trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 56.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,670 shares of the medical research company’s stock after selling 19,260 shares during the period. Boston Trust Walden Corp’s holdings in Amgen were worth $4,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Plimoth Trust Co. LLC lifted its stake in shares of Amgen by 2.5% during the third quarter. Plimoth Trust Co. LLC now owns 11,690 shares of the medical research company’s stock worth $3,299,000 after buying an additional 290 shares during the period. Constitution Capital LLC grew its holdings in Amgen by 52.3% in the third quarter. Constitution Capital LLC now owns 1,165 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 400 shares during the period. Petros Family Wealth LLC raised its position in Amgen by 2.9% during the third quarter. Petros Family Wealth LLC now owns 3,372 shares of the medical research company’s stock worth $952,000 after acquiring an additional 96 shares during the period. Old North State Wealth Management LLC purchased a new position in Amgen in the 3rd quarter valued at about $222,000. Finally, SS&H Financial Advisors Inc. boosted its stake in shares of Amgen by 28.3% in the third quarter. SS&H Financial Advisors Inc. now owns 15,303 shares of the medical research company’s stock worth $4,319,000 after acquiring an additional 3,375 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the sale, the senior vice president directly owned 7,225 shares in the company, valued at $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,908 shares of company stock valued at $3,674,966 in the last ninety days. Company insiders own 0.69% of the company’s stock.

Amgen Trading Down 0.3%

Shares of AMGN opened at $328.49 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45. The firm’s 50-day moving average is $324.05 and its two-hundred day moving average is $302.22. Amgen Inc. has a twelve month low of $257.05 and a twelve month high of $346.38. The firm has a market capitalization of $176.89 billion, a P/E ratio of 25.39, a PEG ratio of 3.06 and a beta of 0.45.

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

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be given a $2.52 dividend. This is a boost from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s dividend payout ratio is 73.57%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HSBC reaffirmed a “buy” rating and issued a $425.00 price target on shares of Amgen in a report on Wednesday, December 10th. Scotiabank initiated coverage on Amgen in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 target price on the stock. Erste Group Bank raised Amgen from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Citigroup lifted their price target on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Finally, Argus raised their target price on Amgen from $310.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus target price of $334.14.

Amgen 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.