American Century Companies Inc. Decreases Holdings in Amgen Inc. $AMGN

Key Points

• American Century Companies Inc. reduced its holdings in Amgen Inc. by 44.5%, selling 62,734 shares and holding 78,307 shares valued at approximately $24.4 million.
• Recent insider sales included SVP Nancy A. Grygiel and Rachna Khosla, who sold shares at prices around $296.99 and $289.68, respectively, indicating significant decreases in their positions.
• Wall Street analysts have provided mixed views on Amgen, with a consensus rating of "Hold" and a price target range suggesting potential for future upside with current stock prices near $293.72.

American Century Companies Inc. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 44.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,307 shares of the medical research company's stock after selling 62,734 shares during the quarter. American Century Companies Inc.'s holdings in Amgen were worth $24,397,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Continuum Advisory LLC raised its position in shares of Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock valued at $1,343,000 after buying an additional 35 shares in the last quarter. Octavia Wealth Advisors LLC raised its position in shares of Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock valued at $759,000 after buying an additional 35 shares in the last quarter. Affinity Capital Advisors LLC grew its holdings in Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock valued at $246,000 after purchasing an additional 37 shares during the last quarter. Accredited Investors Inc. grew its holdings in Amgen by 1.7% during the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock valued at $674,000 after purchasing an additional 37 shares during the last quarter. Finally, Rockline Wealth Management LLC grew its holdings in Amgen by 3.2% during the 1st quarter. Rockline Wealth Management LLC now owns 1,240 shares of the medical research company's stock valued at $386,000 after purchasing an additional 38 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company's 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 sale, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. UBS Group cut their price target on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. William Blair reiterated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $303.76.

Amgen Price Performance

Shares of AMGN stock opened at $293.72 on Friday. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market capitalization of $158.13 billion, a P/E ratio of 24.02, a P/E/G ratio of 2.55 and a beta of 0.49. The company's 50-day simple moving average is $293.43 and its two-hundred day simple moving average is $293.27. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion for 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%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio is presently 77.84%.

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.

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