Lbp Am Sa Decreases Stock Position in Amgen Inc. $AMGN

Key Points

• Lbp Am Sa reduced its stake in Amgen Inc. by 35.1% in Q2, ending with 24,337 shares valued at approximately $6,795,000.
• Amgen recently reported Q2 earnings of $6.02 per share, surpassing estimates, with a revenue of $9.18 billion, marking a 9.4% year-over-year increase.
• The company announced a quarterly dividend of $2.38 per share, resulting in an annualized payout of $9.52 and a yield of 3.2%.

Lbp Am Sa lessened its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 35.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,337 shares of the medical research company's stock after selling 13,143 shares during the quarter. Lbp Am Sa's holdings in Amgen were worth $6,795,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. KPP Advisory Services LLC boosted its stake in shares of Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock valued at $1,817,000 after buying an additional 2,716 shares during the last quarter. Advisor Resource Council purchased a new position in shares of Amgen during the 1st quarter valued at approximately $1,331,000. Trinity Legacy Partners LLC boosted its stake in shares of Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock valued at $5,026,000 after buying an additional 612 shares during the last quarter. DLK Investment Management LLC boosted its stake in shares of Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after buying an additional 1,387 shares during the last quarter. Finally, Founders Financial Alliance LLC boosted its stake in shares of Amgen by 2.7% during the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock valued at $491,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Trading Up 5.8%

Shares of AMGN stock opened at $298.50 on Thursday. The stock has a 50-day simple moving average of $287.74 and a 200 day simple moving average of $288.64. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The stock has a market capitalization of $160.70 billion, a P/E ratio of 24.41, a P/E/G ratio of 2.45 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share 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 during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the company posted $4.97 EPS. Amgen'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. On average, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen's dividend payout ratio (DPR) is 77.84%.

Insider Buying and Selling 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 owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMGN shares. William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Piper Sandler upped their price target on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Raymond James Financial began coverage on Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Bank of America upped their price target on Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research report on Friday, September 26th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $309.70.

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.

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