Penserra Capital Management LLC Decreases Position in Amgen Inc. $AMGN

Penserra Capital Management LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 60.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 735 shares of the medical research company’s stock after selling 1,108 shares during the quarter. Penserra Capital Management LLC’s holdings in Amgen were worth $204,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wealth Preservation Advisors LLC acquired a new stake in Amgen during the 1st quarter worth $25,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after purchasing an additional 85 shares during the last quarter. Activest Wealth Management increased its position 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 in the last quarter. Quaker Wealth Management LLC increased its position 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 in the last quarter. Finally, Nova Wealth Management Inc. boosted its position in shares of Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is owned by corporate insiders.

Amgen Stock Down 0.6%

AMGN stock opened at $336.28 on Thursday. Amgen Inc. has a one year low of $253.30 and a one year high of $342.40. The stock has a market capitalization of $181.08 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. 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 fifty day moving average of $292.73 and a 200-day moving average of $289.69.

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

Amgen Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have commented on the company. Bank of America lifted their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Raymond James Financial initiated coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. The Goldman Sachs Group cut their target price on shares of Amgen from $405.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Piper Sandler reiterated an “overweight” rating on shares of Amgen in a research note on Wednesday, November 5th. Finally, Guggenheim raised their price objective on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average target price of $307.94.

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.