APG Asset Management N.V. Decreases Holdings in Amgen Inc. $AMGN

Key Points

• APG Asset Management N.V. has reduced its stake in Amgen Inc. by 34.1%, now owning 0.08% of the company valued at $125.1 million.
• Amgen's stock received several target price adjustments from analysts, with a consensus rating of "Hold" and an average target price of $303.76.
• The company recently announced a quarterly dividend of $2.38 per share, translating to an annual yield of 3.2%.

APG Asset Management N.V. lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 34.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 433,793 shares of the medical research company's stock after selling 224,704 shares during the period. APG Asset Management N.V. owned about 0.08% of Amgen worth $125,114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Continuum Advisory LLC boosted its position in Amgen by 0.7% during the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after purchasing an additional 35 shares during the period. Octavia Wealth Advisors LLC boosted its position in Amgen by 1.5% during the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after purchasing an additional 35 shares during the period. Affinity Capital Advisors LLC boosted its position in Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after purchasing an additional 37 shares during the period. Accredited Investors Inc. boosted its position in Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after purchasing an additional 37 shares during the period. Finally, Rockline Wealth Management LLC boosted its position in Amgen by 3.2% during the first quarter. Rockline Wealth Management LLC now owns 1,240 shares of the medical research company's stock worth $386,000 after purchasing an additional 38 shares during the period. Institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research reports. Morgan Stanley increased their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Citigroup increased their target price on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. UBS Group cut their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Mizuho raised their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada cut their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. One investment 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $303.76.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction 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. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.76% of the company's stock.

Amgen Trading Down 0.7%

Shares of Amgen stock opened at $293.72 on Friday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17. The firm has a market cap of $158.13 billion, a PE ratio of 24.02, a PEG ratio of 2.55 and a beta of 0.49. 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 50 day simple moving average of $293.43 and a two-hundred day simple moving average of $293.27.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the business posted $4.97 earnings per share. Amgen'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. Analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a dividend of $2.38 per share. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen's payout ratio is presently 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.

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