Stanley Laman Group Ltd. Cuts Stake in Amgen Inc. $AMGN

Key Points

• Stanley Laman Group Ltd. has reduced its stake in Amgen Inc. by 7.4%, holding 12,234 shares worth $3,416,000 as of the latest SEC filing.
• Other institutional investors have significantly increased their positions in Amgen, with one firm boosting its holdings by 296.2%.
• Amgen reported strong quarterly earnings with an EPS of $6.02, surpassing the expected $5.28, while also announcing a quarterly dividend of $2.38 per share.

Stanley Laman Group Ltd. decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,234 shares of the medical research company's stock after selling 981 shares during the quarter. Stanley Laman Group Ltd.'s holdings in Amgen were worth $3,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. OLD National Bancorp IN boosted its holdings in Amgen by 296.2% in the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company's stock valued at $5,027,000 after purchasing an additional 13,460 shares during the last quarter. KPP Advisory Services LLC increased its holdings in Amgen by 87.1% in the first 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 acquired a new position in shares of Amgen in the 1st quarter valued at $1,331,000. Trinity Legacy Partners LLC increased its stake in Amgen by 3.9% in 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 period. Finally, DLK Investment Management LLC grew its position in shares of Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after purchasing an additional 1,387 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN stock opened at $298.81 on Friday. The company has a market cap of $160.87 billion, a P/E ratio of 24.43, a PEG ratio of 2.61 and a beta of 0.49. The business has a 50 day moving average of $287.14 and a two-hundred day moving average of $287.27. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. 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 announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the business earned $4.97 earnings per share. 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. As a group, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current 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 paid a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. Amgen's dividend payout ratio (DPR) is currently 77.84%.

Insider Transactions 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 value of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

AMGN has been the subject of several research reports. UBS Group lowered their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating for the company. Morgan Stanley lifted their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. Finally, William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $305.50.

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.

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