Rep. Robert Bresnahan, Jr. Sells Off Shares of Amgen Inc. (NASDAQ:AMGN)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Amgen Inc. (NASDAQ:AMGN). In a filing disclosed on May 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in Amgen stock on April 8th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 4/17/2025.
• Sold $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 4/16/2025.
• Sold $1,001 – $15,000 in shares of Western Digital (NASDAQ:WDC) on 4/11/2025.
• Sold $1,001 – $15,000 in shares of Western Digital (NASDAQ:WDC) on 4/10/2025.
• Sold $1,001 – $15,000 in shares of DexCom (NASDAQ:DXCM) on 4/8/2025.
• Sold $1,001 – $15,000 in shares of Invesco (NYSE:IVZ) on 4/8/2025.
• Sold $1,001 – $15,000 in shares of Generac (NYSE:GNRC) on 4/8/2025.
• Sold $15,001 – $50,000 in shares of Occidental Petroleum (NYSE:OXY) on 4/8/2025.
• Sold $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 4/8/2025.
• Sold $1,001 – $15,000 in shares of QUALCOMM (NASDAQ:QCOM) on 4/8/2025.

Amgen Trading Down 2.3%

NASDAQ:AMGN opened at $265.86 on Monday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a market capitalization of $142.94 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 2.63 and a beta of 0.51. The stock has a fifty day moving average price of $296.08 and a two-hundred day moving average price of $289.50. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter last year, the business posted $3.96 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is 86.86%.

Insider Buying and Selling

In related news, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. The trade was a 40.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the transaction, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. This trade represents a 16.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,707 shares of company stock valued at $12,819,342. Corporate insiders own 0.69% of the company’s stock.

Institutional Trading of Amgen

A number of hedge funds have recently added to or reduced their stakes in the business. Centricity Wealth Management LLC acquired a new position in shares of Amgen in the 4th quarter valued at about $25,000. Pinney & Scofield Inc. acquired a new position in Amgen during the 4th quarter worth approximately $26,000. First Pacific Financial lifted its position in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after acquiring an additional 67 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its position in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after acquiring an additional 51 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new position in Amgen during the 4th quarter worth approximately $34,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AMGN shares. UBS Group restated a “neutral” rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Mizuho raised their price target on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Royal Bank of Canada dropped their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald began coverage on Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Hold” and an average price target of $310.23.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About Amgen

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.