Schmidt P J Investment Management Inc. Trims Stake in Amgen Inc. $AMGN

Schmidt P J Investment Management Inc. reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 4.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,602 shares of the medical research company’s stock after selling 134 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Amgen were worth $727,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Amgen by 0.3% during the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after buying an additional 148,658 shares during the last quarter. Royal Bank of Canada increased its holdings in Amgen by 6.0% during the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock valued at $1,521,339,000 after buying an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Amgen by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock valued at $1,387,695,000 after buying an additional 243,306 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Amgen by 1.6% in the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock worth $1,017,525,000 after purchasing an additional 52,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Amgen by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock worth $940,989,000 after purchasing an additional 22,820 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.69% of the company’s stock.

Amgen Stock Performance

AMGN opened at $291.76 on Monday. The stock has a market capitalization of $157.07 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.61 and a beta of 0.49. The company has a fifty day moving average of $287.92 and a 200 day moving average of $287.33. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. 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 posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMGN. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday. Raymond James Financial began coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating for the company. Citigroup increased their price objective on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Bank of America increased their price objective on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Finally, Morgan Stanley increased their price objective on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $300.94.

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.