Amgen Inc. $AMGN Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 14.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,631,709 shares of the medical research company’s stock after selling 1,756,586 shares during the quarter. Amgen accounts for approximately 2.4% of Primecap Management Co. CA’s holdings, making the stock its 7th largest holding. Primecap Management Co. CA owned 1.97% of Amgen worth $2,968,479,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Traub Capital Management LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $141,000. Perennial Investment Advisors LLC grew its stake in Amgen by 3.9% during the 2nd quarter. Perennial Investment Advisors LLC now owns 2,978 shares of the medical research company’s stock valued at $831,000 after purchasing an additional 112 shares during the last quarter. Cordatus Wealth Management LLC increased its holdings in shares of Amgen by 0.7% in the second quarter. Cordatus Wealth Management LLC now owns 8,216 shares of the medical research company’s stock valued at $2,294,000 after purchasing an additional 58 shares during the period. MainStreet Investment Advisors LLC raised its stake in shares of Amgen by 3.1% in the second quarter. MainStreet Investment Advisors LLC now owns 1,639 shares of the medical research company’s stock worth $458,000 after purchasing an additional 50 shares during the last quarter. Finally, Portside Wealth Group LLC increased its holdings in Amgen by 11.3% in the 2nd quarter. Portside Wealth Group LLC now owns 1,306 shares of the medical research company’s stock worth $365,000 after buying an additional 133 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 890 shares of the firm’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 value of $299,253.60. Following the transaction, the senior vice president directly owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This trade represents a 11.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the transaction, the executive vice president owned 41,923 shares in the company, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Citigroup boosted their target price on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Guggenheim lifted their price target on Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Morgan Stanley dropped their target price on Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Finally, Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $316.85.

Amgen Stock Performance

NASDAQ AMGN opened at $343.99 on Wednesday. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The stock’s 50 day simple moving average is $297.43 and its 200-day simple moving average is $291.24. The company has a market cap of $185.23 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $345.84.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating the consensus estimate of $5.01 by $0.63. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. During the same period in the prior year, the company earned $5.58 EPS. The firm’s revenue 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 research analysts anticipate that Amgen Inc. will post 20.62 EPS 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 paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. 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.