Amgen Inc. $AMGN Shares Sold by Philadelphia Trust Co.

Key Points

• Philadelphia Trust Co. has reduced its holdings in Amgen Inc. by 17.7%, now owning 29,622 shares valued at approximately $9.23 million.
• Amgen's stock recently showed a 2.1% increase, with shares trading around $296.47, and an expected earnings per share of $20.62 for the current fiscal year.
• The company has announced a quarterly dividend of $2.38 per share, representing a 3.2% dividend yield, to be paid on September 12th.

Philadelphia Trust Co. decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 17.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,622 shares of the medical research company's stock after selling 6,375 shares during the quarter. Philadelphia Trust Co.'s holdings in Amgen were worth $9,229,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Capital World Investors increased its stake in shares of Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after acquiring an additional 6,029,058 shares during the period. GAMMA Investing LLC lifted its stake in shares of Amgen by 43,573.5% in the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after buying an additional 3,653,205 shares in the last quarter. Capital International Investors lifted its stake in shares of Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after buying an additional 3,495,503 shares in the last quarter. Nuveen LLC purchased a new position in shares of Amgen in the first quarter worth about $688,868,000. Finally, Northern Trust Corp lifted its stake in shares of Amgen by 15.8% in the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock worth $1,676,183,000 after buying an additional 875,254 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the 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 directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Up 1.0%

Shares of Amgen stock traded up $2.93 during trading hours on Tuesday, hitting $295.55. The company had a trading volume of 1,858,444 shares, compared to its average volume of 2,124,561. The company's 50-day moving average is $293.35 and its two-hundred day moving average is $293.15. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. 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 cap of $159.11 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion during 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 revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal 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 paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen's dividend payout ratio is 77.84%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Mizuho raised their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Piper Sandler reaffirmed an "overweight" rating and set a $328.00 target price on shares of Amgen in a research note on Friday, June 27th. Bank of America lifted their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reduced their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Citigroup lifted their target price on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $303.76.

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.