Advisors Asset Management Inc. Has $35.69 Million Stake in Amgen Inc. $AMGN

Key Points

• Advisors Asset Management Inc. increased its holdings in Amgen by 3.7% during the first quarter, now owning 114,552 shares valued at approximately $35.7 million.
• Amgen's latest quarterly earnings exceeded analyst estimates, reporting an EPS of $6.02 against a consensus estimate of $5.28, with revenues reaching $9.18 billion.
• The company declared a quarterly dividend of $2.38 per share, representing an annualized dividend yield of 3.3% with a payout ratio of 77.84%.

Advisors Asset Management Inc. grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,552 shares of the medical research company's stock after buying an additional 4,106 shares during the quarter. Amgen makes up about 0.7% of Advisors Asset Management Inc.'s investment portfolio, making the stock its 14th biggest position. Advisors Asset Management Inc.'s holdings in Amgen were worth $35,689,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Amgen by 0.3% during the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock worth $16,471,790,000 after buying an additional 148,658 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Amgen by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company's stock valued at $1,336,647,000 after purchasing an additional 685,785 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Amgen by 6.0% during the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company's stock valued at $1,521,339,000 after purchasing an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Amgen by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company's stock valued at $1,387,695,000 after purchasing an additional 243,306 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after purchasing an additional 3,653,205 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Trading Up 1.3%

AMGN stock traded up $3.54 during midday trading on Friday, reaching $283.64. The company's stock had a trading volume of 2,299,355 shares, compared to its average volume of 1,790,560. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $339.17. The stock has a market cap of $152.70 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. 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 business's 50-day simple moving average is $293.85 and its 200-day simple moving average is $292.60.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

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

Analyst Ratings Changes

AMGN has been the topic of several research analyst reports. Bank of America increased their price target on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Morgan Stanley increased their price target on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Guggenheim initiated coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target on the stock. William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Amgen has a consensus rating of "Hold" and a consensus price target of $304.43.

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 shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $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 accessible through the SEC website. Company insiders own 0.76% of the company's stock.

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.