Amgen Inc. $AMGN Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its stake in Amgen Inc. by 7% in Q1, currently holding 1,050,560 shares valued at approximately $327.30 million.
• Amgen recently reported a quarterly earnings per share of $6.02, exceeding analysts' expectations, alongside a revenue of $9.18 billion, marking a 9.4% increase year-over-year.
• The company has declared a quarterly dividend of $2.38 per share, resulting in an annualized dividend yield of 3.4% with a payout ratio of 77.84%.

Alliancebernstein L.P. decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,050,560 shares of the medical research company's stock after selling 78,562 shares during the quarter. Alliancebernstein L.P. owned 0.20% of Amgen worth $327,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of AMGN. Wealth Preservation Advisors LLC purchased a new stake in Amgen during the 1st quarter valued at $25,000. First Pacific Financial raised its stake in shares of Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after acquiring an additional 67 shares during the period. Pinney & Scofield Inc. purchased a new stake in shares of Amgen in the fourth quarter valued at $26,000. Activest Wealth Management lifted its holdings in shares of Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after acquiring an additional 103 shares during the last quarter. Finally, Global Wealth Strategies & Associates lifted its stake in Amgen by 1,388.9% in the first quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after purchasing an additional 125 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 1.2%

Shares of NASDAQ AMGN traded down $3.45 during trading hours on Monday, hitting $280.19. 2,449,417 shares of the stock were exchanged, compared to its average volume of 2,791,794. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. The firm has a fifty day moving average price of $293.85 and a 200-day moving average price of $292.56. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The company has a market cap of $150.84 billion, a PE ratio of 22.91, a PEG ratio of 2.46 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its 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. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, sell-side analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. Amgen's dividend payout ratio (DPR) is 77.84%.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.69% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMGN shares. Guggenheim initiated coverage on Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price on the stock. Piper Sandler boosted their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Morgan Stanley boosted their price target on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Amgen currently has a consensus rating of "Hold" and a consensus price target of $304.43.

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.