Amgen Inc. $AMGN Holdings Lowered by Forsta AP Fonden

Forsta AP Fonden lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 13.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,400 shares of the medical research company’s stock after selling 16,700 shares during the quarter. Forsta AP Fonden’s holdings in Amgen were worth $30,546,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new position in shares of Amgen in the first quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC boosted its stake in Amgen by 1,214.3% in the 1st 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 period. Activest Wealth Management grew its position in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Quaker Wealth Management LLC raised its stake in Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 240 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AMGN shares. DZ Bank raised their target price on Amgen from $335.00 to $364.00 in a research report on Monday. Guggenheim raised their price objective on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company increased 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, November 5th. Finally, Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $307.94.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was 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 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is owned by insiders.

Amgen Trading Up 4.6%

Shares of NASDAQ AMGN opened at $338.45 on Wednesday. The business has a 50 day simple moving average of $291.69 and a 200 day simple moving average of $289.36. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $338.55. The stock has a market cap of $182.25 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 2.61 and a beta of 0.45. 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, 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. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be issued a $2.38 dividend. The ex-dividend date is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a yield of 2.8%. Amgen’s dividend payout ratio 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.