GKV Capital Management Co. Inc. Decreases Stake in Amgen Inc. $AMGN

GKV Capital Management Co. Inc. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% during the 1st quarter, HoldingsChannel reports. The fund owned 10,765 shares of the medical research company’s stock after selling 80 shares during the period. Amgen accounts for about 1.1% of GKV Capital Management Co. Inc.’s holdings, making the stock its 27th largest position. GKV Capital Management Co. Inc.’s holdings in Amgen were worth $3,354,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new stake in Amgen during the first quarter worth approximately $25,000. Pinney & Scofield Inc. bought a new stake in Amgen during the fourth quarter worth approximately $26,000. First Pacific Financial increased its stake in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after acquiring an additional 67 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Amgen during the fourth quarter worth approximately $36,000. Finally, South Plains Financial Inc. bought a new stake in Amgen during the fourth quarter worth approximately $37,000. 76.50% of the stock is owned by institutional investors.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value 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 trade represents a 15.52% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AMGN shares. Erste Group Bank cut Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Piper Sandler upped their target price on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group cut their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Mizuho upped their target price on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Finally, Guggenheim began coverage on Amgen in a research note on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued 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 an average price target of $304.43.

Amgen Trading Down 0.8%

AMGN opened at $285.61 on Friday. The stock has a market cap of $153.76 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 2.48 and a beta of 0.49. The stock’s 50 day moving average price is $293.16 and its 200-day moving average price is $292.98. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen’s dividend payout ratio is 77.84%.

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.