Pitcairn Co. Cuts Stock Position in Amgen Inc. $AMGN

Pitcairn Co. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 18.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,533 shares of the medical research company’s stock after selling 2,619 shares during the quarter. Pitcairn Co.’s holdings in Amgen were worth $3,220,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AMGN. Laurel Wealth Advisors LLC raised its position in Amgen by 27,765.8% during the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock worth $1,870,880,000 after acquiring an additional 6,676,575 shares during the period. Norges Bank purchased a new stake in shares of Amgen during the second quarter worth about $1,663,726,000. Vanguard Group Inc. raised its position in shares of Amgen by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock worth $14,996,807,000 after purchasing an additional 841,117 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Amgen by 5.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock valued at $3,600,043,000 after buying an additional 687,735 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Amgen by 128.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after buying an additional 600,096 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at $2,436,703.50. This represents a 30.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the transaction, the executive vice president owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,908 shares of company stock worth $3,674,966 over the last quarter. 0.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMGN. Guggenheim increased their target price on Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Citigroup increased their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Amgen in a report on Tuesday, November 25th. Finally, Bank of America increased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $332.85.

Amgen Stock Up 0.1%

Shares of AMGN opened at $317.74 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.38. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45. The stock has a fifty day simple moving average of $316.12 and a two-hundred day simple moving average of $298.78. The company has a market capitalization of $171.10 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 2.87 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same quarter in the prior year, the firm posted $5.58 earnings per share. Amgen’s quarterly revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be given a $2.52 dividend. The ex-dividend date is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a yield of 3.2%. Amgen’s dividend payout ratio (DPR) is currently 73.57%.

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.