Amgen Inc. $AMGN Shares Sold by Studio Investment Management LLC

Studio Investment Management LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,777 shares of the medical research company’s stock after selling 46 shares during the period. Studio Investment Management LLC’s holdings in Amgen were worth $3,288,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Amgen by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after buying an additional 148,658 shares during the period. Royal Bank of Canada increased its stake in Amgen by 6.0% during the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock valued at $1,521,339,000 after buying an additional 274,488 shares during the period. Goldman Sachs Group Inc. increased its stake in Amgen by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock valued at $1,387,695,000 after buying an additional 243,306 shares during the period. Deutsche Bank AG increased its stake in Amgen by 1.6% during the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock valued at $1,017,525,000 after buying an additional 52,734 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Amgen by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock valued at $940,989,000 after buying an additional 22,820 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN opened at $301.14 on Wednesday. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The company has a 50-day moving average of $287.83 and a two-hundred day moving average of $287.15. The stock has a market cap of $162.12 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 2.68 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period last year, the company posted $4.97 earnings per share. The business’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. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research analyst reports. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Sunday. Bank of America raised their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Raymond James Financial assumed coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $300.94.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.69% of the stock is currently owned by insiders.

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.