Amgen Inc. $AMGN Shares Sold by First Hawaiian Bank

Key Points

• First Hawaiian Bank has reduced its stake in Amgen Inc. by 39.2%, owning 3,294 shares valued at approximately $1,026,000 as of the latest filing.
• Despite First Hawaiian Bank's sell-off, other institutional investors, like Brighton Jones LLC and Forum Financial Management LP, have increased their holdings, indicating mixed sentiment among hedge funds.
• Amgen reported strong quarterly earnings of $6.02 per share, surpassing estimates, with revenue growth of 9.4% year-over-year and setting its FY 2025 guidance at 20.200-21.300 EPS.

First Hawaiian Bank decreased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 39.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,294 shares of the medical research company's stock after selling 2,121 shares during the period. First Hawaiian Bank's holdings in Amgen were worth $1,026,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its position 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 Amgen by 0.7% in the fourth quarter. Forum Financial Management LP now owns 352,784 shares of the medical research company's stock valued at $91,950,000 after buying an additional 2,411 shares during the last quarter. Scientech Research LLC boosted its holdings in shares of Amgen by 16.0% in the fourth quarter. Scientech Research LLC now owns 4,279 shares of the medical research company's stock valued at $1,115,000 after acquiring an additional 591 shares during the period. Safe Harbor Fiduciary LLC acquired a new position in shares of Amgen in the 4th quarter valued at $130,000. Finally, Studio Investment Management LLC raised its position in Amgen by 0.9% in the 4th quarter. Studio Investment Management LLC now owns 12,390 shares of the medical research company's stock valued at $3,229,000 after purchasing an additional 114 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $276.39 on Friday. The firm has a market capitalization of $148.80 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. 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 business's 50 day simple moving average is $292.54 and its 200-day simple moving average is $291.66. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17.

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

Amgen Announces Dividend

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

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.76% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on AMGN. Piper Sandler raised their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Bank of America upped their price objective on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Morgan Stanley lifted their target price on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $304.43.

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.

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