Bell Bank Sells 1,260 Shares of Amgen Inc. $AMGN

Key Points

• Bell Bank has reduced its holdings in Amgen Inc. by 4.0%, now owning 30,210 shares valued at $8,435,000, after selling 1,260 shares in the second quarter.
• Institutional investors own 76.50% of Amgen's stock, with significant increases in holdings by firms like GAMMA Investing LLC and Federated Hermes Inc.
• Analysts have mixed ratings for Amgen, with an average rating of "Hold" and a consensus price target of $304.43, as several firms modify their price objectives around this range.

Bell Bank cut its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,210 shares of the medical research company's stock after selling 1,260 shares during the period. Bell Bank's holdings in Amgen were worth $8,435,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMGN. GAMMA Investing LLC boosted its holdings in 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 purchasing an additional 3,653,205 shares in the last quarter. Nuveen LLC bought a new stake in Amgen in the first quarter worth $688,868,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Amgen in the fourth quarter worth $193,339,000. Federated Hermes Inc. lifted its position in Amgen by 48.5% during the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company's stock worth $634,680,000 after acquiring an additional 665,555 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Amgen by 128.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company's stock worth $332,017,000 after acquiring an additional 600,096 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the 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 directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is owned by company insiders.

Analyst Ratings Changes

AMGN has been the subject of a number of research analyst reports. 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. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. UBS Group cut their target price 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. Morgan Stanley boosted 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. 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 assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $304.43.

Amgen Price Performance

Shares of AMGN traded down $0.12 during mid-day trading on Monday, hitting $285.29. 2,042,245 shares of the company traded hands, compared to its average volume of 2,796,104. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. 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 business has a 50-day moving average of $290.57 and a 200 day moving average of $290.29. The stock has a market capitalization of $153.59 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 2.48 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. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. During the same period in the prior year, the firm earned $4.97 earnings per share. Amgen's 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. As a group, equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's dividend payout ratio is 77.84%.

Amgen Company 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.