Amgen Inc. $AMGN Stock Position Cut by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in Amgen Inc. by 15.8%, owning 25,065 shares valued at approximately $7.8 million after selling 4,689 shares in the first quarter.
• Amgen reported a quarterly earnings of $6.02 EPS, surpassing estimates, with revenues reaching $9.18 billion, a 9.4% increase compared to the previous year.
• Amgen announced a quarterly dividend of $2.38 per share, representing an annualized dividend of $9.52 and a yield of 3.2%, with a dividend payout ratio of 77.84%.

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,065 shares of the medical research company's stock after selling 4,689 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Amgen were worth $7,809,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. KPP Advisory Services LLC boosted its stake in Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after purchasing an additional 2,716 shares during the period. Advisor Resource Council acquired a new stake in Amgen during the 1st quarter worth $1,331,000. DLK Investment Management LLC boosted its stake in Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after purchasing an additional 1,387 shares during the period. Founders Financial Alliance LLC boosted its stake in Amgen by 2.7% during the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock worth $491,000 after purchasing an additional 42 shares during the period. Finally, Stratos Investment Management LLC boosted its stake in Amgen by 24.8% during the 1st quarter. Stratos Investment Management LLC now owns 21,382 shares of the medical research company's stock worth $6,662,000 after purchasing an additional 4,252 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent analyst reports. Mizuho raised their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Piper Sandler raised their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $304.43.

Amgen Stock Down 1.9%

AMGN traded down $5.7240 during trading on Monday, hitting $287.9960. The company had a trading volume of 451,824 shares, compared to its average volume of 2,826,522. The company has a market cap of $155.05 billion, a PE ratio of 23.55, a P/E/G ratio of 2.53 and a beta of 0.49. The business has a 50-day moving average of $293.43 and a 200-day moving average of $293.14. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17.

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 for the quarter, beating the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion during 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 firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company 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 dividend of $2.38 per share. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. Amgen's dividend payout ratio is currently 77.84%.

Insider Activity

In other 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 transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. This represents 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.

About Amgen

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.