Hodges Capital Management Inc. Sells 2,392 Shares of Amgen Inc. $AMGN

Hodges Capital Management Inc. lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 16.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,750 shares of the medical research company’s stock after selling 2,392 shares during the quarter. Hodges Capital Management Inc.’s holdings in Amgen were worth $3,281,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AMGN. Brighton Jones LLC grew its position in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Abel Hall LLC acquired a new position in Amgen in the first quarter worth $232,000. Stephens Inc. AR grew its holdings in shares of Amgen by 50.3% during the first quarter. Stephens Inc. AR now owns 83,843 shares of the medical research company’s stock worth $26,121,000 after purchasing an additional 28,064 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in shares of Amgen during the first quarter worth $78,000. Finally, Schear Investment Advisers LLC increased its stake in shares of Amgen by 3.2% in the first quarter. Schear Investment Advisers LLC now owns 5,646 shares of the medical research company’s stock valued at $1,759,000 after buying an additional 173 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMGN. Wells Fargo & Company upped their price target on shares of Amgen from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Raymond James Financial initiated coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Citigroup increased their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Finally, Morgan Stanley dropped their target price on Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and an average target price of $308.83.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.76% of the company’s stock.

Amgen Stock Up 1.5%

Shares of Amgen stock opened at $320.20 on Monday. The business has a fifty day simple moving average of $289.94 and a 200 day simple moving average of $288.65. The stock has a market cap of $172.42 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88.

Amgen (NASDAQ:AMGN) last issued 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. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s dividend payout ratio is presently 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.