Amgen Inc. $AMGN Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 124,913 shares of the medical research company’s stock after selling 3,881 shares during the quarter. Amgen accounts for approximately 1.1% of Meyer Handelman Co.’s holdings, making the stock its 28th largest holding. Meyer Handelman Co.’s holdings in Amgen were worth $35,250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC boosted its stake in shares of Amgen by 27,765.8% in the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after purchasing an additional 6,676,575 shares during the period. Norges Bank purchased a new stake in Amgen during the 2nd quarter worth $1,663,726,000. Vanguard Group Inc. lifted its holdings in Amgen by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock worth $14,996,807,000 after buying an additional 841,117 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amgen by 5.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock valued at $3,600,043,000 after buying an additional 687,735 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Amgen by 128.9% in the 1st 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. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Daiwa Capital Markets boosted their price target on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Erste Group Bank raised Amgen from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Citigroup raised 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. Truist Financial initiated coverage on shares of Amgen in a report on Monday, November 24th. They issued a “hold” rating and a $318.00 price target on the stock. Finally, 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 note on Friday, September 26th. One 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $332.85.

Amgen Stock Down 0.3%

AMGN stock opened at $332.93 on Friday. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99. Amgen Inc. has a 1-year low of $257.05 and a 1-year high of $346.38. The firm has a fifty day moving average price of $322.98 and a two-hundred day moving average price of $301.63. The firm has a market cap of $179.28 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.10 and a beta of 0.45.

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

Amgen Increases Dividend

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

Insider Activity

In related news, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. The trade was a 14.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the stock in a transaction on Wednesday, November 12th. The stock was 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 $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 10,908 shares of company stock valued at $3,674,966. 0.76% of the stock is currently owned by insiders.

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.