Epoch Investment Partners Inc. Sells 17,640 Shares of Amgen Inc. $AMGN

Key Points

• Epoch Investment Partners Inc. has reduced its holdings in Amgen Inc. by 30.3%, selling 17,640 shares and owning 40,624 shares valued at approximately $12.66 million.
• Other institutional investors, including Vanguard Group and Goldman Sachs, have made significant investments, with Vanguard owning over 52 million shares valued at $16.47 billion.
• Amgen announced a quarterly dividend of $2.38 per share, representing an annualized payout of $9.52 and a dividend yield of 3.3%.

Epoch Investment Partners Inc. trimmed its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 30.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 40,624 shares of the medical research company's stock after selling 17,640 shares during the period. Epoch Investment Partners Inc.'s holdings in Amgen were worth $12,656,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. KPP Advisory Services LLC boosted its stake in Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock valued at $1,817,000 after acquiring an additional 2,716 shares during the last quarter. Advisor Resource Council purchased a new stake in Amgen during the first quarter valued at about $1,331,000. Trinity Legacy Partners LLC lifted its holdings in Amgen by 3.9% during the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock valued at $5,026,000 after purchasing an additional 612 shares during the last quarter. DLK Investment Management LLC boosted its position in Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after purchasing an additional 1,387 shares during the period. Finally, Founders Financial Alliance LLC increased its stake in shares of Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock worth $491,000 after purchasing an additional 42 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the 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 completion of the sale, the senior vice president 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup boosted their target price on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Royal Bank Of Canada reduced their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. 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 note on Wednesday, August 6th. Finally, Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $304.43.

Amgen Trading Up 0.7%

Shares of NASDAQ:AMGN traded up $2.10 on Friday, reaching $287.71. 1,302,709 shares of the company traded hands, compared to its average volume of 2,094,510. Amgen Inc. has a 52 week low of $253.30 and a 52 week 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's 50-day simple moving average is $293.13 and its 200 day simple moving average is $292.92. The stock has a market capitalization of $154.89 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 2.48 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. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts anticipate 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. Shareholders of record on Friday, August 22nd will be given a $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.3%. 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.