Amgen Inc. $AMGN Shares Sold by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB publ decreased its holdings in Amgen Inc. by 1.1%, with the fund now owning 199,915 shares valued at approximately $62.28 million.
• Amgen reported a quarterly revenue of $9.18 billion and earnings per share of $6.02, exceeding analysts' expectations of $5.28, indicating strong financial performance.
• The company announced a quarterly dividend of $2.38 per share, reflecting an annualized dividend yield of 3.3% with a payout ratio of 77.84%.

Lansforsakringar Fondforvaltning AB publ decreased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,915 shares of the medical research company's stock after selling 2,204 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Amgen were worth $62,284,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen during the first quarter worth $25,000. Pinney & Scofield Inc. bought a new position in shares of Amgen in the fourth quarter valued at $26,000. First Pacific Financial raised its holdings in shares of Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Amgen in the fourth quarter valued at about $36,000. Finally, South Plains Financial Inc. bought a new position in Amgen during the fourth quarter valued at about $37,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AMGN shares. Mizuho upped their price target on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Bank of America increased their target price on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Finally, Guggenheim began coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target on the stock. One research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $304.43.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rachna Khosla sold 1,500 shares of Amgen 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 transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company's stock.

Amgen Trading Up 0.7%

Shares of AMGN stock traded up $2.10 during trading hours on Friday, reaching $287.71. 1,302,709 shares of the stock were exchanged, compared to its average volume of 2,094,510. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $339.17. The company's 50-day moving average price is $293.13 and its 200-day moving average price is $292.90. The firm has a market capitalization of $154.89 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 2.50 and a beta of 0.49. 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 (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $8.86 billion. During the same period last year, the business posted $4.97 EPS. The business's revenue 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, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio 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.