Aberdeen Group plc Sells 83,945 Shares of Amgen Inc. $AMGN

Key Points

• Aberdeen Group plc reduced its stake in Amgen Inc. by 11%, selling 83,945 shares, and now holds approximately 0.13% of the company valued at $188.6 million.
• Amgen's recent quarterly earnings exceeded expectations, reporting $6.02 earnings per share and $9.18 billion in revenue, representing a 9.4% year-over-year increase.
• The company announced a quarterly dividend of $2.38 per share, translating to an annualized yield of 3.3%, with a dividend payout ratio of approximately 77.84%.

Aberdeen Group plc trimmed its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 678,615 shares of the medical research company's stock after selling 83,945 shares during the quarter. Aberdeen Group plc owned approximately 0.13% of Amgen worth $188,638,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fairvoy Private Wealth LLC boosted its stake in Amgen by 1.1% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company's stock worth $885,000 after purchasing an additional 35 shares during the period. Crumly & Associates Inc. raised its holdings in shares of Amgen by 3.2% during the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock worth $320,000 after acquiring an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. raised its holdings in shares of Amgen by 5.2% during the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock worth $204,000 after acquiring an additional 36 shares in the last quarter. Affinity Capital Advisors LLC raised its holdings in shares of Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after acquiring an additional 37 shares in the last quarter. Finally, Accredited Investors Inc. raised its holdings in shares of Amgen by 1.7% during the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after acquiring an additional 37 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

NASDAQ:AMGN opened at $290.13 on Friday. The stock's fifty day moving average is $286.77 and its 200 day moving average is $287.68. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The firm has a market capitalization of $156.19 billion, a PE ratio of 23.72, a PEG ratio of 2.56 and a beta of 0.49. 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 (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the firm posted $4.97 EPS. Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America upped their price objective on Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a report on Friday, September 26th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Citigroup upped their price objective on Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Piper Sandler upped their price objective on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $309.42.

Amgen 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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.