Flputnam Investment Management Co. Sells 1,621 Shares of Amgen Inc. $AMGN

Key Points

• Flputnam Investment Management Co. has reduced its stake in **Amgen Inc.** by 2.8%, selling 1,621 shares and now holding 56,705 shares valued at approximately $17.67 million.
• Several institutional investors, including the Royal Bank of Canada and Beck Mack & Oliver LLC, have increased their positions in Amgen during the first quarter of the year.
• Amgen reported strong quarterly earnings, with a **net margin** of 18.96% and an EPS of $6.02, surpassing analysts' expectations and reflecting a 9.4% year-over-year revenue increase.

Flputnam Investment Management Co. trimmed its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,705 shares of the medical research company's stock after selling 1,621 shares during the quarter. Flputnam Investment Management Co.'s holdings in Amgen were worth $17,666,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of Amgen by 6.0% during the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company's stock valued at $1,521,339,000 after purchasing an additional 274,488 shares during the last quarter. Beck Mack & Oliver LLC lifted its holdings in Amgen by 6.1% in the 1st quarter. Beck Mack & Oliver LLC now owns 4,905 shares of the medical research company's stock worth $1,528,000 after buying an additional 282 shares during the period. ICW Investment Advisors LLC lifted its holdings in Amgen by 0.9% in the 1st quarter. ICW Investment Advisors LLC now owns 8,668 shares of the medical research company's stock worth $2,701,000 after buying an additional 75 shares during the period. MAI Capital Management lifted its stake in shares of Amgen by 0.5% in the 1st quarter. MAI Capital Management now owns 71,398 shares of the medical research company's stock valued at $22,244,000 after purchasing an additional 372 shares during the period. Finally, Calton & Associates Inc. lifted its stake in shares of Amgen by 110.0% in the 1st quarter. Calton & Associates Inc. now owns 1,678 shares of the medical research company's stock valued at $523,000 after purchasing an additional 879 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction 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 completion of the sale, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction 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 sale, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

Amgen Trading Up 0.7%

Shares of NASDAQ AMGN opened at $287.71 on Friday. The business's 50 day moving average is $293.13 and its two-hundred day moving average is $292.90. 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 $339.17. The stock has a market capitalization of $154.89 billion, a P/E ratio of 23.52, a PEG ratio of 2.50 and a beta of 0.49.

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

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued 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%.

Analysts Set New Price Targets

A number of research firms have recently commented on AMGN. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Piper Sandler raised their target price on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Mizuho raised their target price on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Guggenheim started coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Finally, William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $304.43.

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.

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