Amgen Inc. $AMGN Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,979,186 shares of the medical research company’s stock after selling 24,318 shares during the period. Bank of New York Mellon Corp owned 0.74% of Amgen worth $1,122,926,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Laurel Wealth Advisors LLC increased its position in Amgen by 27,765.8% in the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock worth $1,870,880,000 after buying an additional 6,676,575 shares during the period. Norges Bank bought a new position in shares of Amgen during the second quarter worth about $1,663,726,000. Vanguard Group Inc. grew its position 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 acquiring an additional 841,117 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Amgen by 5.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock worth $3,600,043,000 after acquiring an additional 687,735 shares during the period. Finally, WoodTrust Financial Corp lifted its position in Amgen by 8,223.6% in the 2nd quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock valued at $166,307,000 after purchasing an additional 588,478 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction that occurred on 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 owned 7,082 shares in the company, valued at approximately $2,381,251.68. This trade represents a 11.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,908 shares of company stock valued at $3,674,966 over the last ninety days. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. HSBC restated a “buy” rating and issued a $425.00 target price on shares of Amgen in a research report on Wednesday, December 10th. Cantor Fitzgerald increased their price objective on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. BMO Capital Markets lifted their target price on Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Argus increased their price target on Amgen from $310.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, December 30th. Finally, Guggenheim lifted their price objective on shares of Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $339.71.

Amgen Stock Up 0.5%

Shares of AMGN stock opened at $351.32 on Wednesday. Amgen Inc. has a 1 year low of $261.43 and a 1 year high of $353.25. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The business’s fifty day moving average is $332.38 and its 200-day moving average is $308.43. The stock has a market cap of $189.18 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 3.10 and a beta of 0.45.

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

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, February 13th. This is an increase from Amgen’s previous quarterly dividend of $2.38. Amgen’s payout ratio is presently 73.57%.

Amgen Company 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.