Atle Fund Management AB Decreases Holdings in Amgen Inc. $AMGN

Atle Fund Management AB decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 42.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,806 shares of the medical research company’s stock after selling 10,088 shares during the period. Amgen makes up about 1.5% of Atle Fund Management AB’s holdings, making the stock its 26th biggest holding. Atle Fund Management AB’s holdings in Amgen were worth $3,896,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AMGN. Sequoia Financial Advisors LLC raised its stake in Amgen by 2.3% during the third quarter. Sequoia Financial Advisors LLC now owns 160,646 shares of the medical research company’s stock valued at $45,334,000 after buying an additional 3,619 shares during the last quarter. OLD National Bancorp IN increased its holdings in shares of Amgen by 296.2% during the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after acquiring an additional 13,460 shares in the last quarter. Atlantic Union Bankshares Corp raised its position in shares of Amgen by 165.0% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock worth $2,972,000 after purchasing an additional 6,627 shares during the last quarter. Davis Capital Management bought a new position in Amgen in the 3rd quarter worth about $1,841,000. Finally, D.A. Davidson & CO. grew its position in Amgen by 2.6% during the 3rd quarter. D.A. Davidson & CO. now owns 243,054 shares of the medical research company’s stock valued at $68,590,000 after purchasing an additional 6,222 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of several recent analyst reports. Daiwa Capital Markets lifted their target price on shares of Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Piper Sandler boosted their price objective on shares of Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Oppenheimer set a $400.00 price objective on Amgen and gave the company an “outperform” rating in a research report on Thursday. Royal Bank Of Canada lifted their target price on Amgen from $330.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Finally, Guggenheim boosted their price target on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and an average price target of $342.45.

Amgen Price Performance

NASDAQ AMGN opened at $341.88 on Friday. The stock has a market capitalization of $184.10 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 3.02 and a beta of 0.45. 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 current ratio of 1.28 and a quick ratio of 0.99. The business’s fifty day moving average price is $332.60 and its 200-day moving average price is $309.34.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. The company 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%.Amgen’s revenue for the quarter 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. On average, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, February 13th. This is an increase from Amgen’s previous quarterly dividend of $2.38. Amgen’s payout ratio is currently 73.57%.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the transaction, the senior vice president owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. This trade represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the sale, the executive vice president directly owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,908 shares of company stock worth $3,674,966 in the last quarter. Company insiders own 0.76% of the company’s stock.

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.