Logan Capital Management Inc. Reduces Holdings in Amgen Inc. $AMGN

Key Points

• Logan Capital Management Inc. reduced its stake in Amgen Inc. by 3.8% in the first quarter, now holding 25,020 shares valued at approximately $7.8 million.
• Several hedge funds, including Vanguard Group and UBS, have increased their stakes in Amgen, indicating strong institutional interest, which now comprises 76.50% of the stock owned by such investors.
• Amgen recently declared a quarterly dividend of $2.38 per share, with a current dividend yield of 3.4% and a payout ratio of 77.84%.

Logan Capital Management Inc. lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 25,020 shares of the medical research company's stock after selling 987 shares during the period. Logan Capital Management Inc.'s holdings in Amgen were worth $7,795,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AMGN. GAMMA Investing LLC raised 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 worth $1,140,768,000 after purchasing an additional 3,653,205 shares during the period. Nuveen LLC acquired a new stake in shares of Amgen during the first quarter worth about $688,868,000. Two Sigma Advisers LP raised its position in shares of Amgen by 96.9% during 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 period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Amgen during the fourth quarter worth about $193,339,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Amgen by 15.4% in the 4th 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 valued at $1,336,647,000 after buying an additional 685,785 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Trading Down 2.2%

NASDAQ:AMGN traded down $6.34 during mid-day trading on Friday, reaching $276.39. 2,143,109 shares of the company's stock traded hands, compared to its average volume of 2,775,222. 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 $148.80 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.42 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The company has a 50 day moving average price of $292.98 and a 200-day moving average price of $292.03.

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 company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the previous year, the business earned $4.97 EPS. Amgen'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. On average, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.4%. Amgen's dividend payout ratio is presently 77.84%.

Insider Buying and Selling

In other Amgen 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 transaction of $376,286.33. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. UBS Group decreased their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Finally, Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.