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

Key Points

• Loudon Investment Management LLC reduced its stake in Amgen Inc. by 44.4%, selling 6,083 shares and leaving it with 7,629 shares valued at approximately $2.13 million.
• Amgen's quarterly earnings surpassed expectations, reporting $6.02 earnings per share against a consensus estimate of $5.28, with revenues of $9.18 billion.
• Analysts have mixed views on Amgen, with seven analysts rating it as a Buy, twelve as Hold, and one as Sell, while the average price target stands at $309.70.

Loudon Investment Management LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 44.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,629 shares of the medical research company's stock after selling 6,083 shares during the quarter. Amgen comprises approximately 1.2% of Loudon Investment Management LLC's portfolio, making the stock its 28th biggest position. Loudon Investment Management LLC's holdings in Amgen were worth $2,130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Octavia Wealth Advisors LLC raised its holdings in Amgen by 1.5% in the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock valued at $759,000 after acquiring an additional 35 shares in the last quarter. Crumly & Associates Inc. increased its position in shares of Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock worth $320,000 after purchasing an additional 36 shares during the last quarter. Maryland Capital Advisors Inc. raised its stake in shares of Amgen by 5.2% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock valued at $204,000 after purchasing an additional 36 shares in the last quarter. Affinity Capital Advisors LLC lifted its position in shares of Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after purchasing an additional 37 shares during the last quarter. Finally, Accredited Investors Inc. grew its stake in Amgen by 1.7% in the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after purchasing an additional 37 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.69% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AMGN shares. Morgan Stanley boosted their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. UBS Group dropped their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Citigroup raised their price objective on Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Bank of America increased their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a report on Friday, September 26th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $309.70.

Amgen Stock Performance

AMGN stock opened at $282.20 on Wednesday. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a market capitalization of $151.93 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 2.38 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The stock's fifty day moving average is $287.95 and its two-hundred day moving average is $288.57.

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 for the quarter, beating the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion for 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 quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

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

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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