Amgen Inc. $AMGN Shares Sold by Round Hill Asset Management

Key Points

• Round Hill Asset Management reduced its holdings in Amgen Inc. by 3.3%, leaving them with 43,253 shares valued at approximately $13.5 million, making Amgen their second-largest investment.
• Amgen's recent quarterly earnings surpassed expectations, reporting earnings per share of $6.02, which exceeded analysts' forecasts of $5.28, alongside a 9.4% year-over-year revenue increase.
• Recent analyst ratings for Amgen show a mixed outlook, with two sell ratings and a consensus rating of "Hold," while price targets range from $280.00 to $333.00.

Round Hill Asset Management lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,253 shares of the medical research company's stock after selling 1,495 shares during the period. Amgen accounts for approximately 9.7% of Round Hill Asset Management's investment portfolio, making the stock its 2nd biggest holding. Round Hill Asset Management's holdings in Amgen were worth $13,475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KPP Advisory Services LLC increased its position in Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after buying an additional 2,716 shares during the period. Advisor Resource Council acquired a new position in Amgen during the first quarter worth approximately $1,331,000. DLK Investment Management LLC increased its position in Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after buying an additional 1,387 shares during the period. Founders Financial Alliance LLC increased its position in Amgen by 2.7% during the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock worth $491,000 after buying an additional 42 shares during the period. Finally, Stratos Investment Management LLC increased its position in Amgen by 24.8% during the first quarter. Stratos Investment Management LLC now owns 21,382 shares of the medical research company's stock worth $6,662,000 after buying an additional 4,252 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction 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 transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research analyst reports. Royal Bank Of Canada cut their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley lifted their target price on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Bank of America lifted their price target on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Mizuho lifted their price target on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Amgen has an average rating of "Hold" and a consensus target price of $303.76.

Amgen Price Performance

AMGN traded down $0.69 during trading on Thursday, reaching $295.76. 1,842,701 shares of the stock were exchanged, compared to its average volume of 2,848,993. The business's 50 day moving average price is $293.49 and its two-hundred day moving average price is $293.19. 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 company has a market capitalization of $159.23 billion, a price-to-earnings ratio of 24.18, a P/E/G ratio of 2.55 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen's quarterly 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. As a group, equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business 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 $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's payout ratio is 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.