Amgen Inc. $AMGN Stake Cut by Bahl & Gaynor Inc.

Key Points

• Bahl & Gaynor Inc. reduced its stake in Amgen Inc. by 5.0%, now owning approximately 0.05% of the company, valued at $91.4 million.
• Various hedge funds have adjusted their positions in Amgen; notably, Brighton Jones LLC increased its holdings by 23.5% during Q4.
• Amgen's recent quarterly earnings surpassed expectations, reporting $6.02 EPS on revenue of $9.18 billion, a 9.4% increase compared to the previous year.

Bahl & Gaynor Inc. reduced its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 293,395 shares of the medical research company's stock after selling 15,320 shares during the period. Bahl & Gaynor Inc. owned approximately 0.05% of Amgen worth $91,407,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AMGN. Brighton Jones LLC grew its holdings in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares during the period. Forum Financial Management LP grew its holdings in Amgen by 0.7% during the fourth quarter. Forum Financial Management LP now owns 352,784 shares of the medical research company's stock worth $91,950,000 after acquiring an additional 2,411 shares during the period. MGO One Seven LLC grew its holdings in Amgen by 26.3% during the fourth quarter. MGO One Seven LLC now owns 8,653 shares of the medical research company's stock worth $2,255,000 after acquiring an additional 1,802 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in Amgen by 12.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 36,971 shares of the medical research company's stock worth $9,636,000 after acquiring an additional 4,232 shares during the period. Finally, Burling Wealth Partners LLC acquired a new position in Amgen during the fourth quarter worth about $242,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Mizuho lifted their price target on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley lifted their price target on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target on the stock. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $303.76.

Amgen Price Performance

NASDAQ AMGN opened at $293.72 on Friday. The company has a 50 day simple moving average of $293.43 and a 200-day simple moving average of $293.27. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The firm has a market capitalization of $158.13 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 2.55 and a beta of 0.49. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts predict 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. Stockholders of record on Friday, August 22nd will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, August 22nd. Amgen's payout ratio is currently 77.84%.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated 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 sale, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

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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