Greenline Partners LLC Sells 3,209 Shares of Amgen Inc. $AMGN

Key Points

• Greenline Partners LLC sold 3,209 shares of Amgen Inc., reducing its stake by 20.6%, resulting in ownership of 12,346 shares valued at approximately $3.85 million.
• Institutional Ownership of Amgen is significant, with 76.50% of the stock owned by institutional investors, including GAMMA Investing LLC increasing its position by 43,573.5% this quarter.
• Amgen recently announced a quarterly dividend of $2.38, reflecting a 3.4% yield, with a dividend payout ratio of 77.84%.

Greenline Partners LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 20.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,346 shares of the medical research company's stock after selling 3,209 shares during the period. Greenline Partners LLC's holdings in Amgen were worth $3,846,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. GAMMA Investing LLC increased its position 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 period. Nuveen LLC bought a new position in shares of Amgen in the first quarter worth approximately $688,868,000. Two Sigma Advisers LP increased its position in shares of Amgen by 96.9% in the fourth quarter. Two Sigma Advisers LP now owns 1,545,600 shares of the medical research company's stock worth $402,845,000 after purchasing an additional 760,700 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Amgen in the fourth quarter worth approximately $193,339,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Amgen by 15.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company's stock worth $1,336,647,000 after purchasing an additional 685,785 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.69% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Bank of America upped their price objective 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. Raymond James Financial assumed coverage on shares of Amgen in a research report on Wednesday. They issued a "market perform" rating on the stock. UBS Group decreased their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Citigroup increased their price target on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $304.43.

Amgen Stock Down 1.1%

Shares of NASDAQ AMGN opened at $283.85 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. The firm has a market capitalization of $152.81 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 2.50 and a beta of 0.49. The firm has a fifty day simple moving average of $293.70 and a two-hundred day simple moving average of $292.75.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed 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. This represents a $9.52 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 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.

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