Amgen Inc. $AMGN Shares Sold by DNB Asset Management AS

DNB Asset Management AS cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 155,648 shares of the medical research company’s stock after selling 12,017 shares during the quarter. DNB Asset Management AS’s holdings in Amgen were worth $43,458,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wealth Preservation Advisors LLC acquired a new position in Amgen in the 1st quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen in the 2nd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 85 shares during the period. Activest Wealth Management raised its stake in shares of Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after purchasing an additional 103 shares during the last quarter. Finally, Quaker Wealth Management LLC lifted its holdings in shares of Amgen by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after purchasing an additional 240 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AMGN shares. Wells Fargo & Company boosted their price objective on shares of Amgen from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Daiwa Capital Markets increased their price target on shares of Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley lowered their price objective on Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Finally, Scotiabank initiated coverage on Amgen in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Amgen has an average rating of “Hold” and a consensus price target of $319.90.

Insider Buying and Selling at Amgen

In related news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total value of $2,317,053.57. Following the sale, the executive vice president directly owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the transaction, the senior vice president owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This trade represents a 11.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.76% of the stock is currently owned by corporate insiders.

Amgen Stock Down 1.8%

AMGN stock opened at $336.07 on Friday. 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 company’s 50-day moving average price is $299.77 and its 200 day moving average price is $291.91. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $345.84. The company has a market cap of $180.97 billion, a P/E ratio of 27.48, a P/E/G ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the firm earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, November 21st. Amgen’s payout ratio is presently 73.57%.

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.