Swedbank AB Sells 283,479 Shares of Amgen Inc. $AMGN

Swedbank AB lowered its position in Amgen Inc. (NASDAQ:AMGN) by 36.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,403 shares of the medical research company’s stock after selling 283,479 shares during the quarter. Swedbank AB owned approximately 0.09% of Amgen worth $136,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new stake in shares of Amgen in the 1st quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen in the 2nd quarter worth $27,000. CBIZ Investment Advisory Services LLC lifted its stake in 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 worth $29,000 after purchasing an additional 85 shares during the last quarter. Evelyn Partners Investment Management LLP purchased a new stake in Amgen during the second quarter valued at about $32,000. Finally, Howard Hughes Medical Institute bought a new position in shares of Amgen during the second quarter valued at about $32,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

AMGN opened at $331.49 on Wednesday. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The stock has a market capitalization of $178.50 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 3.08 and a beta of 0.45. The stock’s 50 day moving average price is $320.86 and its 200-day moving average price is $300.89. Amgen Inc. has a 52-week low of $257.05 and a 52-week high of $346.38.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.63. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. During the same quarter in the previous year, the business posted $5.58 earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This is an increase from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 dividend on an annualized basis and a yield of 3.0%. Amgen’s payout ratio is currently 73.57%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMGN. Guggenheim boosted their target price on Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 15th. Truist Financial assumed coverage on Amgen in a research note on Monday, November 24th. They set a “hold” rating and a $318.00 price objective for the company. Cantor Fitzgerald raised their target price on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Amgen in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $332.85.

Insider Buying and Selling

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the firm’s 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 completion of the sale, the executive vice president directly owned 41,923 shares in the company, valued at $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the sale, the senior vice president directly owned 7,082 shares in the company, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 10,908 shares of company stock valued at $3,674,966 over the last three months. Corporate insiders own 0.69% of the company’s stock.

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.