Smead Capital Management Inc. Sells 99,042 Shares of Amgen Inc. $AMGN

Key Points

• Smead Capital Management Inc. has reduced its holdings in Amgen by 8.6%, now owning approximately 1,046,014 shares valued at $325.9 million.
• Amgen recently announced a quarterly dividend of $2.38 per share, with a dividend yield of 3.3%, which will be paid on September 12th.
• The company's Q2 earnings report showed an earnings per share (EPS) of $6.02, surpassing the consensus estimate of $5.28 by $0.74.

Smead Capital Management Inc. reduced its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,046,014 shares of the medical research company's stock after selling 99,042 shares during the period. Amgen accounts for about 5.6% of Smead Capital Management Inc.'s portfolio, making the stock its 3rd largest position. Smead Capital Management Inc. owned approximately 0.19% of Amgen worth $325,886,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Amgen by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock worth $16,471,790,000 after purchasing an additional 148,658 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Amgen by 15.4% in the 4th 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 worth $1,336,647,000 after purchasing an additional 685,785 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Amgen by 5.8% in 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 purchasing an additional 243,306 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 purchasing an additional 3,653,205 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Amgen by 1.6% in the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company's stock worth $1,017,525,000 after purchasing an additional 52,734 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ:AMGN traded down $1.21 during trading on Tuesday, reaching $286.50. The stock had a trading volume of 1,288,100 shares, compared to its average volume of 2,793,447. 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 stock has a market cap of $154.24 billion, a PE ratio of 23.43, a PEG ratio of 2.50 and a beta of 0.49. The business has a fifty day moving average price of $293.44 and a 200-day moving average price of $292.85.

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 analysts' consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the firm posted $4.97 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 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 position. The disclosure for this sale can be found here. Insiders own 0.69% of the company's stock.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent analyst reports. Piper Sandler lifted their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. Bank of America lifted their price objective on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Citigroup lifted their price objective on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Amgen presently has a consensus rating of "Hold" and a consensus price target of $304.43.

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.