Bridges Investment Management Inc. Lowers Position in Amgen Inc. $AMGN

Key Points

• Bridges Investment Management Inc. reduced its holdings in Amgen Inc. by 1.6% in the second quarter, now owning 91,278 shares valued at approximately $25.5 million.
• Several institutional investors have significantly increased their positions in Amgen, with some raising their holdings by as much as 12,200% during the first quarter.
• Amgen recently announced a quarterly dividend of $2.38, translating to an annualized dividend yield of 3.2% and a payout ratio of 77.84%.

Bridges Investment Management Inc. lowered its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,278 shares of the medical research company's stock after selling 1,445 shares during the period. Bridges Investment Management Inc.'s holdings in Amgen were worth $25,486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Preservation Advisors LLC purchased a new stake in shares of Amgen in the 1st quarter valued at about $25,000. First Pacific Financial raised its holdings in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after acquiring an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after buying an additional 85 shares in the last quarter. Activest Wealth Management raised its holdings in shares of Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after buying an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. raised its holdings in shares of Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock valued at $38,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AMGN shares. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Bank of America raised their price objective on Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a report on Friday, September 26th. UBS Group decreased their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Raymond James Financial started coverage on Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Finally, Morgan Stanley raised their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $309.42.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred 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 sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.76% of the company's stock.

Amgen Price Performance

AMGN opened at $297.32 on Thursday. The stock's 50 day simple moving average is $286.71 and its 200 day simple moving average is $287.44. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The firm has a market cap of $160.07 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 2.60 and a beta of 0.49.

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

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given 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 was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is currently 77.84%.

About Amgen

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.