Thompson Investment Management Inc. Decreases Position in Amgen Inc. $AMGN

Key Points

• Thompson Investment Management Inc. reduced its stake in Amgen Inc. by 5.5%, owning 18,280 shares after selling 1,055 shares during the second quarter, with holdings valued at $5,104,000.
• Amgen recently reported strong quarterly earnings of $6.02 EPS, outperforming analyst expectations and achieving 9.4% revenue growth year-over-year.
• The company declared a quarterly dividend of $2.38 per share, reflecting an annualized yield of 3.2% and a payout ratio of 77.84%.

Thompson Investment Management Inc. lowered its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,280 shares of the medical research company's stock after selling 1,055 shares during the quarter. Thompson Investment Management Inc.'s holdings in Amgen were worth $5,104,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fairvoy Private Wealth LLC boosted its stake in Amgen by 1.1% during the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company's stock worth $885,000 after buying an additional 35 shares in the last quarter. Crumly & Associates Inc. grew its stake in shares of Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock valued at $320,000 after purchasing an additional 36 shares during the period. Maryland Capital Advisors Inc. raised its holdings in shares of Amgen by 5.2% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock worth $204,000 after buying an additional 36 shares in the last quarter. Affinity Capital Advisors LLC boosted its stake in Amgen by 4.5% in the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock valued at $246,000 after buying an additional 37 shares in the last quarter. Finally, Accredited Investors Inc. grew its position in Amgen by 1.7% in the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock valued at $674,000 after acquiring an additional 37 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of Amgen stock opened at $295.43 on Friday. The firm has a fifty day moving average of $286.91 and a two-hundred day moving average of $287.79. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a market capitalization of $159.05 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 2.56 and a beta of 0.49. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 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 during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the prior year, the company posted $4.97 earnings per share. The firm's revenue 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 predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders 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 payout ratio is presently 77.84%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was 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 directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Raymond James Financial started coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating on the stock. 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 report on Wednesday, August 6th. William Blair restated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Weiss Ratings raised shares of Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $309.42.

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.

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