Voya Investment Management LLC Sells 275,398 Shares of Amgen Inc. $AMGN

Voya Investment Management LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 58.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,284 shares of the medical research company’s stock after selling 275,398 shares during the quarter. Voya Investment Management LLC’s holdings in Amgen were worth $55,956,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Mitchell & Pahl Private Wealth LLC lifted its position in Amgen by 0.6% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 6,655 shares of the medical research company’s stock worth $1,878,000 after buying an additional 42 shares in the last quarter. Chapin Davis Inc. lifted its position in shares of Amgen by 4.6% during the third quarter. Chapin Davis Inc. now owns 6,268 shares of the medical research company’s stock worth $1,769,000 after purchasing an additional 277 shares in the last quarter. Talbot Financial LLC grew its stake in shares of Amgen by 11.1% during the third quarter. Talbot Financial LLC now owns 58,661 shares of the medical research company’s stock valued at $16,554,000 after purchasing an additional 5,839 shares during the last quarter. YHB Investment Advisors Inc. increased its holdings in shares of Amgen by 1.0% in the third quarter. YHB Investment Advisors Inc. now owns 45,125 shares of the medical research company’s stock valued at $12,734,000 after purchasing an additional 468 shares in the last quarter. Finally, Rise Advisors LLC raised its position in Amgen by 8.8% in the 3rd quarter. Rise Advisors LLC now owns 1,126 shares of the medical research company’s stock worth $318,000 after purchasing an additional 91 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Amgen

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of Amgen stock in a transaction 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 sale, the executive vice president directly owned 41,923 shares in the company, valued at approximately $14,120,924.09. The trade was a 14.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the sale, the senior vice president directly owned 7,082 shares in the company, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 10,908 shares of company stock worth $3,674,966. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent research reports. Citigroup boosted their target price on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Scotiabank initiated coverage on shares of Amgen in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price target for the company. Morgan Stanley reduced their price objective on shares of Amgen from $329.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, December 12th. Bank of America increased their price target on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amgen in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $332.85.

Amgen Trading Up 0.9%

NASDAQ:AMGN opened at $327.38 on Friday. The business’s 50-day simple moving average is $319.32 and its 200-day simple moving average is $300.13. Amgen Inc. has a fifty-two week low of $257.05 and a fifty-two week high of $346.38. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99. The stock has a market capitalization of $176.29 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 2.93 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the business posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be given a $2.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a yield of 3.1%. This is a boost from Amgen’s previous quarterly dividend of $2.38. Amgen’s payout ratio is 73.57%.

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.