Swedbank AB Sells 283,479 Shares of Amgen Inc. $AMGN

Swedbank AB lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 36.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,403 shares of the medical research company’s stock after selling 283,479 shares during the period. Swedbank AB’s holdings in Amgen were worth $136,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMGN. Kelly Financial Services LLC purchased a new position in shares of Amgen during the third quarter valued at approximately $211,000. Highline Wealth Partners LLC increased its position in Amgen by 1.7% during the 3rd quarter. Highline Wealth Partners LLC now owns 4,171 shares of the medical research company’s stock valued at $1,177,000 after buying an additional 69 shares in the last quarter. Welch Group LLC raised its stake in Amgen by 27.4% during the third quarter. Welch Group LLC now owns 1,092 shares of the medical research company’s stock valued at $308,000 after buying an additional 235 shares during the last quarter. True North Advisors LLC raised its stake in Amgen by 63.6% during the third quarter. True North Advisors LLC now owns 1,644 shares of the medical research company’s stock valued at $464,000 after buying an additional 639 shares during the last quarter. Finally, OLD National Bancorp IN boosted its holdings in Amgen by 3.0% in the third quarter. OLD National Bancorp IN now owns 18,544 shares of the medical research company’s stock worth $5,233,000 after acquiring an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN opened at $331.49 on Wednesday. The company’s 50-day simple moving average is $320.86 and its two-hundred day simple moving average is $300.89. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The stock has a market capitalization of $178.50 billion, a P/E ratio of 25.62, a P/E/G ratio of 3.08 and a beta of 0.45. Amgen Inc. has a 52-week low of $257.05 and a 52-week high of $346.38.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.63. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. During the same period in the previous year, the company earned $5.58 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be paid a $2.52 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.0%. Amgen’s dividend payout ratio (DPR) is 73.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald raised their price target on Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Truist Financial started coverage on shares of Amgen in a research note on Monday, November 24th. They set a “hold” rating and a $318.00 price objective for the company. DZ Bank lifted their target price on shares of Amgen from $335.00 to $364.00 in a report on Monday, November 10th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Finally, Scotiabank began 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $332.85.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction dated 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 owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,908 shares of company stock valued at $3,674,966 over the last 90 days. Company insiders own 0.69% of the company’s stock.

About Amgen

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.