Amgen Inc. $AMGN Shares Sold by UMB Bank n.a.

Key Points

• UMB Bank n.a. reduced its position in Amgen Inc. by 8.4%, resulting in ownership of 28,088 shares worth approximately $7.84 million as of its latest filing.
• Several other institutional investors, including KPP Advisory Services LLC and Trinity Legacy Partners LLC, significantly increased their stakes in Amgen, indicating ongoing investment interest in the company.
• Amgen reported a strong quarter with $6.02 EPS, surpassing estimates, and a revenue increase of 9.4% year-over-year, leading to guidance for FY 2025 set at $20.20-21.30 EPS.

UMB Bank n.a. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,088 shares of the medical research company's stock after selling 2,567 shares during the quarter. UMB Bank n.a.'s holdings in Amgen were worth $7,842,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after buying an additional 3,653,205 shares during the period. Nuveen LLC purchased a new position in Amgen in the first quarter valued at about $688,868,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Amgen in the fourth quarter valued at about $193,339,000. Federated Hermes Inc. grew its stake in 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 during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in 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 during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

NASDAQ:AMGN traded down $0.70 during trading hours on Tuesday, reaching $285.30. The company had a trading volume of 881,496 shares, compared to its average volume of 2,791,805. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The firm has a market cap of $153.60 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 2.48 and a beta of 0.49. The business's 50 day moving average price is $290.35 and its 200-day moving average price is $290.02. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 174.71% and a net margin of 18.96%.The business's revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a $2.38 dividend. 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 is presently 77.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AMGN shares. Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. UBS Group lowered their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Morgan Stanley lifted their target price on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $304.43.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the 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 completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.69% of the company's stock.

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.