Amgen Inc. $AMGN Shares Sold by Anchor Investment Management LLC

Key Points

• Anchor Investment Management LLC has decreased its stake in Amgen Inc. by 28.4%, owning 4,641 shares valued at $1.446 million after selling 1,837 shares in the first quarter.
• Amgen reported $9.18 billion in revenue for the last quarter, exceeding analyst expectations, and achieved $6.02 earnings per share, above the consensus estimate of $5.28.
• The company declared a quarterly dividend of $2.38 per share, representing a yield of 3.4%, with a payout ratio of 77.84%.

Anchor Investment Management LLC reduced its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 28.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,641 shares of the medical research company's stock after selling 1,837 shares during the period. Anchor Investment Management LLC's holdings in Amgen were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in AMGN. Brighton Jones LLC lifted its stake in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after purchasing an additional 5,226 shares during the period. Forum Financial Management LP lifted its stake in shares of Amgen by 0.7% in the 4th quarter. Forum Financial Management LP now owns 352,784 shares of the medical research company's stock valued at $91,950,000 after purchasing an additional 2,411 shares during the period. Gotham Asset Management LLC lifted its stake in shares of Amgen by 1.6% in the 4th quarter. Gotham Asset Management LLC now owns 21,738 shares of the medical research company's stock valued at $5,666,000 after purchasing an additional 333 shares during the period. OMERS ADMINISTRATION Corp lifted its stake in shares of Amgen by 12.6% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 24,166 shares of the medical research company's stock valued at $6,299,000 after purchasing an additional 2,705 shares during the period. Finally, NorthRock Partners LLC increased its holdings in Amgen by 143.3% in the 4th quarter. NorthRock Partners LLC now owns 10,285 shares of the medical research company's stock worth $2,681,000 after acquiring an additional 6,057 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Amgen stock opened at $278.51 on Thursday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The firm has a market capitalization of $149.94 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.43 and a beta of 0.49. The company has a fifty day simple moving average of $293.29 and a 200-day simple moving average of $292.22. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the firm earned $4.97 earnings per share. The company's revenue for the quarter 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, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

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

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMGN. Morgan Stanley boosted their price target on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Citigroup raised their price target on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. UBS Group decreased their price target on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Finally, Raymond James Financial assumed coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a "market perform" rating on the stock. One 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. According to MarketBeat.com, Amgen presently 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.

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