Dorsey & Whitney Trust CO LLC Grows Holdings in Amgen Inc. $AMGN

Key Points

• Dorsey & Whitney Trust CO LLC increased its stake in Amgen Inc. by 4.7%, owning a total of 20,023 shares valued at approximately $6.24 million after acquiring 891 additional shares in the first quarter.
• Amgen's recent quarterly earnings included an EPS of $6.02, exceeding analysts' expectations by $0.74, with revenue of $9.18 billion, a 9.4% increase from the same quarter last year.
• The company announced a quarterly dividend of $2.38 per share, reflecting an annual dividend yield of 3.2% and a payout ratio of 77.84%.

Dorsey & Whitney Trust CO LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,023 shares of the medical research company's stock after purchasing an additional 891 shares during the quarter. Dorsey & Whitney Trust CO LLC's holdings in Amgen were worth $6,238,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AMGN. GAMMA Investing LLC grew its holdings in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after buying an additional 3,653,205 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Amgen during the first quarter valued at approximately $688,868,000. Northern Trust Corp grew its holdings in shares of Amgen by 15.8% during the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after buying an additional 875,254 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Amgen by 96.9% during the fourth quarter. Two Sigma Advisers LP now owns 1,545,600 shares of the medical research company's stock valued at $402,845,000 after buying an additional 760,700 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Amgen in the fourth quarter worth approximately $193,339,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMGN. Royal Bank Of Canada dropped their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Guggenheim assumed coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target on the stock. 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, 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 note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $303.76.

Amgen Stock Performance

NASDAQ AMGN traded down $2.04 during mid-day trading on Friday, reaching $293.72. 1,643,970 shares of the stock were exchanged, compared to its average volume of 2,104,120. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The company has a market capitalization of $158.13 billion, a P/E ratio of 24.02, a P/E/G ratio of 2.55 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17. The business's 50 day moving average is $293.43 and its 200-day moving average is $293.27.

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 (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion for 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%. The company's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Insider Activity

In related 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 value of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.

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.