Amgen Inc. $AMGN Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,181 shares of the medical research company’s stock after selling 391 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Amgen were worth $10,661,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Nuveen LLC acquired a new stake in Amgen during the first quarter worth about $688,868,000. Federated Hermes Inc. grew its holdings 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 purchasing an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Amgen by 128.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after purchasing an additional 600,096 shares during the period. WoodTrust Financial Corp lifted its holdings in shares of Amgen by 8,223.6% in the 2nd quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock worth $166,307,000 after purchasing an additional 588,478 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in Amgen during the 2nd quarter worth $156,812,000. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on AMGN shares. Citigroup upped their price target on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Sunday. Morgan Stanley lifted their price target on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Finally, Piper Sandler boosted their price objective on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $300.94.

Amgen Trading Down 1.7%

Amgen stock opened at $295.98 on Thursday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The stock has a market capitalization of $159.34 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 2.66 and a beta of 0.49. The firm has a 50 day simple moving average of $287.97 and a 200-day simple moving average of $287.21. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the firm posted $4.97 earnings per share. The firm’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. As a group, equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

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.