Aberdeen Group plc Trims Holdings in Amgen Inc. $AMGN

Aberdeen Group plc decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 11.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 678,615 shares of the medical research company’s stock after selling 83,945 shares during the period. Aberdeen Group plc’s holdings in Amgen were worth $188,638,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OLD National Bancorp IN grew its position in shares of Amgen by 296.2% during the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after buying an additional 13,460 shares in the last quarter. KPP Advisory Services LLC grew its position in shares of Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock worth $1,817,000 after buying an additional 2,716 shares in the last quarter. Advisor Resource Council bought a new position in shares of Amgen during the 1st quarter worth $1,331,000. Trinity Legacy Partners LLC grew its position in shares of Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after buying an additional 612 shares in the last quarter. Finally, DLK Investment Management LLC grew its position in shares of Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock worth $6,384,000 after buying an additional 1,387 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was 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 document filed with the SEC, which is available through the SEC website. 0.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMGN shares. Citigroup raised their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Morgan Stanley raised 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. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Piper Sandler raised their price objective on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. Finally, Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a research report on Saturday. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $309.42.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $290.13 on Friday. 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 company has a market cap of $156.19 billion, a PE ratio of 23.72, a P/E/G ratio of 2.56 and a beta of 0.49. The business has a 50-day simple moving average of $286.77 and a two-hundred day simple moving average of $287.68. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

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.