Amgen Inc. $AMGN Shares Sold by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management reduced its shareholding in Amgen Inc. by 9.3%, now owning approximately 4.65 million shares worth $1.45 billion.
• Amgen recently reported a quarterly EPS of $6.02, surpassing analysts' expectations, with a revenue of $9.18 billion, marking a 9.4% year-over-year increase.
• The company announced a quarterly dividend of $2.38 per share, translating to an annual yield of 3.4%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,652,342 shares of the medical research company's stock after selling 475,986 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.87% of Amgen worth $1,449,437,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new stake in Amgen during the 1st quarter valued at approximately $25,000. Pinney & Scofield Inc. purchased a new stake in Amgen during the 4th quarter valued at approximately $26,000. First Pacific Financial raised its stake in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after acquiring an additional 67 shares during the last quarter. Activest Wealth Management raised its stake in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after acquiring an additional 103 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in Amgen during the 4th quarter valued at approximately $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMGN has been the subject of several analyst reports. Piper Sandler upped their price objective on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating for the company. Citigroup increased their target price on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $304.43.

Amgen Price Performance

Shares of AMGN traded down $6.34 on Friday, reaching $276.39. The stock had a trading volume of 2,143,109 shares, compared to its average volume of 1,855,134. The firm has a market capitalization of $148.80 billion, a PE ratio of 22.60, a PEG ratio of 2.46 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The firm has a 50-day moving average of $292.54 and a 200 day moving average of $291.76. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17.

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, topping analysts' consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.4%. Amgen's dividend payout ratio is currently 77.84%.

Insider Buying and Selling 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 stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

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.