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

Key Points

• Intech Investment Management LLC significantly reduced its stake in Amgen by 51.4%, selling over 31,000 shares, leaving them with approximately 29,418 shares valued at over $9 million.
• Several other institutional investors have adjusted their holdings in Amgen, with Vanguard Group increasing its position by 0.3% and UBS AM increasing its stake by 15.4%.
• Amgen reported impressive quarterly earnings, with $6.02 earnings per share, surpassing estimates, and set a FY 2025 guidance for earnings at 20.200-21.300 EPS.

Intech Investment Management LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 51.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,418 shares of the medical research company's stock after selling 31,170 shares during the period. Intech Investment Management LLC's holdings in Amgen were worth $9,165,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AMGN. Vanguard Group Inc. raised its position in Amgen by 0.3% in the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock valued at $16,471,790,000 after purchasing an additional 148,658 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Amgen by 15.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company's stock valued at $1,336,647,000 after buying an additional 685,785 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Amgen by 6.0% during the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company's stock valued at $1,521,339,000 after buying an additional 274,488 shares during the period. Goldman Sachs Group Inc. lifted its position in Amgen by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company's stock worth $1,387,695,000 after acquiring an additional 243,306 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMGN. William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Piper Sandler upped their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They issued a "market perform" rating on the stock. Finally, Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $304.43.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.76% of the stock is owned by company insiders.

Amgen Stock Performance

Shares of Amgen stock opened at $278.51 on Thursday. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17. The firm's 50-day simple moving average is $293.29 and its 200-day simple moving average is $292.22. The firm has a market cap of $149.94 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 2.43 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the company earned $4.97 earnings per share. Amgen's quarterly revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

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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