Amgen Inc. $AMGN Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. lowered its position in Amgen Inc. (NASDAQ:AMGN) by 3.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 124,913 shares of the medical research company’s stock after selling 3,881 shares during the quarter. Amgen accounts for about 1.1% of Meyer Handelman Co.’s investment portfolio, making the stock its 28th biggest position. Meyer Handelman Co.’s holdings in Amgen were worth $35,250,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Amgen by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after acquiring an additional 841,117 shares during the period. State Street Corp grew its stake in shares of Amgen by 0.6% in the second quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock worth $8,196,775,000 after purchasing an additional 177,035 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Amgen by 2.3% during the second quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock valued at $3,619,489,000 after purchasing an additional 291,271 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Amgen by 5.6% during the second 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 purchasing an additional 687,735 shares in the last quarter. Finally, Laurel Wealth Advisors LLC lifted its holdings in Amgen by 27,765.8% in 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 purchasing an additional 6,676,575 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AMGN shares. BMO Capital Markets raised their target price on shares of Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Raymond James Financial assumed coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. HSBC reissued a “buy” rating and set a $425.00 target price on shares of Amgen in a report on Wednesday, December 10th. Morgan Stanley decreased their price target on Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, December 12th. Finally, Erste Group Bank raised Amgen from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $332.85.

Amgen Stock Performance

AMGN opened at $332.93 on Friday. 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 firm has a market cap of $179.28 billion, a PE ratio of 25.73, a P/E/G ratio of 3.10 and a beta of 0.45. The business has a fifty day simple moving average of $322.98 and a 200-day simple moving average of $301.63. Amgen Inc. has a fifty-two week low of $257.05 and a fifty-two week high of $346.38.

Amgen (NASDAQ:AMGN) last announced its 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. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. During the same period in the previous year, the firm earned $5.58 earnings per share. Amgen’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. As a group, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be paid a dividend of $2.52 per share. This is a boost 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%. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s payout ratio is currently 73.57%.

Insiders Place Their Bets

In other news, EVP Murdo Gordon sold 6,879 shares of Amgen stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rachna Khosla sold 890 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the sale, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. This represents a 11.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,908 shares of company stock worth $3,674,966 over the last ninety days. 0.76% of the stock is currently owned by company insiders.

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.