Heritage Investors Management Corp Sells 572 Shares of Amgen Inc. $AMGN

Heritage Investors Management Corp trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% during the 2nd quarter, Holdings Channel reports. The fund owned 57,566 shares of the medical research company’s stock after selling 572 shares during the period. Heritage Investors Management Corp’s holdings in Amgen were worth $16,073,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AMGN. Nuveen LLC purchased a new stake in shares of Amgen during the first quarter valued at about $688,868,000. Federated Hermes Inc. lifted its position in shares of Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock valued at $634,680,000 after buying an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Amgen by 128.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock valued at $332,017,000 after buying an additional 600,096 shares during the last quarter. WoodTrust Financial Corp lifted its position in shares of Amgen by 8,223.6% during the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock valued at $166,307,000 after buying an additional 588,478 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Amgen during the second quarter valued at about $156,812,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.76% of the company’s stock.

Amgen Stock Performance

AMGN opened at $291.77 on Thursday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The firm has a market capitalization of $157.08 billion, a PE ratio of 23.86, a P/E/G ratio of 2.61 and a beta of 0.49. The firm has a 50 day moving average of $287.73 and a two-hundred day moving average of $287.45.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the firm posted $4.97 EPS. Amgen’s revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Raymond James Financial assumed coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. Citigroup increased their price target 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. Bank of America increased their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. UBS Group decreased their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $300.94.

Amgen Company 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.