PDT Partners LLC Cuts Stock Position in Amgen Inc. $AMGN

Key Points

• PDT Partners LLC has reduced its stake in Amgen Inc. by 36.5%, selling 2,117 shares and now holding 3,689 shares worth approximately $1,149,000.
• Several institutional investors have adjusted their positions in Amgen, with KPP Advisory Services LLC increasing its holdings by 87.1%.
• The company reported $6.02 earnings per share for its most recent quarter, surpassing expectations and marking a 9.4% year-over-year revenue growth.

PDT Partners LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 36.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,689 shares of the medical research company's stock after selling 2,117 shares during the period. PDT Partners LLC's holdings in Amgen were worth $1,149,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Amgen by 43,573.5% in 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 purchasing an additional 3,653,205 shares in the last quarter. Nuveen LLC bought a new position in Amgen during the 1st quarter valued at about $688,868,000. Two Sigma Advisers LP boosted its holdings in shares of Amgen by 96.9% in the 4th quarter. Two Sigma Advisers LP now owns 1,545,600 shares of the medical research company's stock valued at $402,845,000 after buying an additional 760,700 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Amgen during the 4th quarter valued at about $193,339,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Amgen by 15.4% during 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 worth $1,336,647,000 after acquiring an additional 685,785 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Amgen stock traded down $3.45 during mid-day trading on Monday, reaching $280.19. 2,417,615 shares of the company were exchanged, compared to its average volume of 2,787,805. The firm has a market cap of $150.84 billion, a PE ratio of 22.91, a PEG ratio of 2.46 and a beta of 0.49. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. 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 fifty day simple moving average of $293.85 and a 200-day simple moving average of $292.56.

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 for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter last year, the business posted $4.97 earnings per share. The company'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, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal 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 given 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 payout ratio is currently 77.84%.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMGN. Morgan Stanley increased their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Citigroup increased their target price on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. UBS Group reduced their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Finally, Piper Sandler boosted their price target on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Amgen currently has an average rating of "Hold" and an average target price of $304.43.

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.