Amgen Inc. $AMGN Shares Sold by Hamilton Point Investment Advisors LLC

Key Points

• Hamilton Point Investment Advisors LLC reduced its stake in Amgen Inc. by 3.5% during the second quarter, now holding 33,784 shares valued at approximately $9.43 million.
• Several institutional investors, including Nuveen LLC and Federated Hermes Inc., have recently acquired or increased their holdings in Amgen, indicating strong interest in the stock, with institutional ownership at 76.50%.
• Amgen reported a 9.4% year-over-year revenue increase for the last quarter, totaling $9.18 billion, and set a FY 2025 EPS guidance of 20.200-21.300.

Hamilton Point Investment Advisors LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,784 shares of the medical research company's stock after selling 1,226 shares during the period. Amgen makes up 1.6% of Hamilton Point Investment Advisors LLC's holdings, making the stock its 17th biggest holding. Hamilton Point Investment Advisors LLC's holdings in Amgen were worth $9,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in AMGN. Nuveen LLC acquired a new stake in shares of Amgen during the first quarter valued at about $688,868,000. Federated Hermes Inc. grew its holdings in shares of Amgen by 48.5% in the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company's stock valued at $634,680,000 after purchasing an additional 665,555 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Amgen by 128.9% in the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company's stock valued at $332,017,000 after purchasing an additional 600,096 shares in the last quarter. WoodTrust Financial Corp grew its holdings in shares of Amgen by 8,223.6% in the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company's stock valued at $166,307,000 after purchasing an additional 588,478 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Amgen in the second quarter valued at approximately $156,812,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm'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 sale, the senior vice president directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.69% of the company's stock.

Amgen Stock Up 0.8%

Shares of NASDAQ:AMGN opened at $292.40 on Tuesday. The company has a market capitalization of $157.42 billion, a PE ratio of 23.91, a P/E/G ratio of 2.52 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. The firm has a 50 day simple moving average of $286.58 and a 200-day simple moving average of $287.33.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS 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 the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is 77.84%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMGN shares. Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Bank of America lifted their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a report on Friday, September 26th. Raymond James Financial started coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a "market perform" rating for the company. Morgan Stanley lifted their price objective on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, UBS Group decreased their price target on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $309.42.

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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