Atle Fund Management AB Sells 2,683 Shares of Amgen Inc. $AMGN

Key Points

• Atle Fund Management AB has reduced its stake in Amgen Inc. by 10.1%, bringing its total shares to 23,894 and making it the 13th largest position in their portfolio.
• Multiple institutional investors, including Octavia Wealth Advisors LLC and Crumly & Associates Inc., have increased their stakes in Amgen, indicating ongoing interest despite Atle's reduction.
• Amgen recently reported strong earnings, with an EPS of $6.02 for the quarter, exceeding expectations of $5.28, and has set its FY 2025 guidance at $20.200-21.300 EPS.

Atle Fund Management AB decreased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,894 shares of the medical research company's stock after selling 2,683 shares during the quarter. Amgen comprises approximately 2.8% of Atle Fund Management AB's portfolio, making the stock its 13th biggest holding. Atle Fund Management AB's holdings in Amgen were worth $6,671,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Octavia Wealth Advisors LLC raised its holdings in Amgen by 1.5% in the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after acquiring an additional 35 shares during the period. Crumly & Associates Inc. grew its position in shares of Amgen by 3.2% in the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock valued at $320,000 after purchasing an additional 36 shares during the last quarter. Affinity Capital Advisors LLC increased its stake in shares of Amgen by 4.5% in 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. increased its stake in shares of Amgen by 1.7% in 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 lifted its position in shares of Amgen by 3.2% during the 1st 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 last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

NASDAQ AMGN traded up $0.31 on Tuesday, hitting $286.31. 1,068,113 shares of the company were exchanged, compared to its average volume of 2,792,699. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The firm has a 50 day moving average of $290.35 and a two-hundred day moving average of $290.02. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company has a market cap of $154.14 billion, a P/E ratio of 23.42, a P/E/G ratio of 2.48 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share 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 firm had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter last year, the company posted $4.97 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Raymond James Financial began coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Piper Sandler boosted their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. Finally, Bank of America boosted their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Amgen currently has an average rating of "Hold" and a consensus target price of $304.43.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.69% of the company's stock.

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.