Trexquant Investment LP decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 26.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,412 shares of the medical research company's stock after selling 36,293 shares during the period. Trexquant Investment LP's holdings in Amgen were worth $30,660,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Wealth Preservation Advisors LLC bought a new stake in Amgen during the first quarter worth about $25,000. Pinney & Scofield Inc. purchased a new position in Amgen in the fourth quarter worth about $26,000. First Pacific Financial raised its holdings in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in Amgen in the fourth quarter worth about $36,000. Finally, South Plains Financial Inc. purchased a new position in Amgen in the fourth quarter worth about $37,000. Institutional investors own 76.50% of the company's stock.
Analysts Set New Price Targets
Several brokerages have issued reports on AMGN. Mizuho lifted their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Piper Sandler lifted their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Citigroup boosted their price objective on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Morgan Stanley boosted their target price on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Royal Bank Of Canada cut their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Amgen presently has an average rating of "Hold" and a consensus target price of $304.43.
Check Out Our Latest Research Report on AMGN
Amgen Price Performance
Shares of NASDAQ:AMGN traded up $2.10 during midday trading on Friday, reaching $287.71. 1,302,709 shares of the company were exchanged, compared to its average volume of 2,094,510. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The business's fifty day moving average is $293.13 and its two-hundred day moving average is $292.90. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The stock has a market cap of $154.89 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 2.50 and a beta of 0.49.
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 (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $8.86 billion. During the same quarter in the prior year, the firm earned $4.97 earnings per share. Amgen'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, analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.
Amgen Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.3%. Amgen's payout ratio is presently 77.84%.
Insider Buying and Selling
In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,267 shares of the company's 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 transaction, the senior vice president 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 disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.
Amgen Profile
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Free Report)
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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