Gateway Investment Advisers LLC Cuts Stake in Amgen Inc. $AMGN

Key Points

• Gateway Investment Advisers LLC reduced its holdings in Amgen Inc. by 0.7%, owning 140,507 shares valued at approximately $39.23 million as of the end of the second quarter.
• Amgen's stock currently has a market capitalization of $147.02 billion, with a P/E ratio of 22.33 and the stock opened at $273.08 on Wednesday, down 0.5%.
• Several analysts have increased their target prices for Amgen, with a consensus average target price of $304.43 and an average rating of "Hold."

Gateway Investment Advisers LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 140,507 shares of the medical research company's stock after selling 977 shares during the period. Gateway Investment Advisers LLC's holdings in Amgen were worth $39,231,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in AMGN. Brighton Jones LLC increased its stake in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after buying an additional 5,226 shares during the period. Forum Financial Management LP increased its stake in Amgen by 0.7% during the 4th quarter. Forum Financial Management LP now owns 352,784 shares of the medical research company's stock worth $91,950,000 after buying an additional 2,411 shares during the period. Tidal Investments LLC increased its stake in Amgen by 39.2% during the 4th quarter. Tidal Investments LLC now owns 34,078 shares of the medical research company's stock worth $8,882,000 after buying an additional 9,598 shares during the period. Twinbeech Capital LP increased its stake in Amgen by 178.4% during the 4th quarter. Twinbeech Capital LP now owns 5,204 shares of the medical research company's stock worth $1,356,000 after buying an additional 3,335 shares during the period. Finally, Vident Advisory LLC increased its stake in Amgen by 173.0% during the 4th quarter. Vident Advisory LLC now owns 19,331 shares of the medical research company's stock worth $5,039,000 after buying an additional 12,250 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on AMGN. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. William Blair reiterated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. 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. Piper Sandler boosted their price target on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Finally, Bank of America boosted their price target on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $304.43.

Amgen Stock Up 0.4%

Shares of Amgen stock traded up $1.12 during trading hours on Thursday, hitting $275.83. The company had a trading volume of 3,322,465 shares, compared to its average volume of 1,911,063. The company's 50-day moving average is $290.76 and its two-hundred day moving average is $290.85. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. 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 cap of $148.50 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 2.39 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.5%. Amgen's dividend payout ratio is currently 77.84%.

Insiders Place Their Bets

In related 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 transaction of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares in the company, valued at $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 available at the SEC website. 0.76% of the stock is currently owned by corporate insiders.

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.