Securian Asset Management Inc. Lowers Holdings in Amgen Inc. $AMGN

Securian Asset Management Inc. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 7.6% in the 3rd quarter, Holdings Channel reports. The fund owned 25,994 shares of the medical research company’s stock after selling 2,125 shares during the period. Securian Asset Management Inc.’s holdings in Amgen were worth $7,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of AMGN. Sather Financial Group Inc lifted its stake in shares of Amgen by 1.3% in the 3rd quarter. Sather Financial Group Inc now owns 6,746 shares of the medical research company’s stock valued at $1,904,000 after purchasing an additional 89 shares during the period. O Brien Wealth Partners LLC grew its position in Amgen by 72,450.0% during the third quarter. O Brien Wealth Partners LLC now owns 1,451 shares of the medical research company’s stock valued at $409,000 after buying an additional 1,449 shares during the period. Absher Wealth Management LLC raised its position in shares of Amgen by 2.4% in the third quarter. Absher Wealth Management LLC now owns 78,929 shares of the medical research company’s stock worth $22,274,000 after acquiring an additional 1,814 shares during the period. SeaBridge Investment Advisors LLC raised its position in shares of Amgen by 4.2% in the third quarter. SeaBridge Investment Advisors LLC now owns 20,008 shares of the medical research company’s stock worth $5,646,000 after acquiring an additional 808 shares during the period. Finally, Code Waechter LLC boosted its stake in shares of Amgen by 5.4% during the 3rd quarter. Code Waechter LLC now owns 2,369 shares of the medical research company’s stock worth $696,000 after acquiring an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the transaction, the senior vice president directly owned 7,225 shares of the company’s stock, valued at $2,436,703.50. The trade was a 30.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rachna Khosla sold 890 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the transaction, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 10,908 shares of company stock worth $3,674,966. Insiders own 0.69% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $330.17 on Wednesday. Amgen Inc. has a 1 year low of $259.35 and a 1 year high of $346.38. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99. The firm has a market capitalization of $177.79 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 2.92 and a beta of 0.45. The business has a 50 day simple moving average of $327.43 and a 200-day simple moving average of $303.48.

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, topping analysts’ consensus estimates of $5.01 by $0.63. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be issued a $2.52 dividend. 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 dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s payout ratio is currently 73.57%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Scotiabank began coverage on Amgen in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 price target for the company. Cantor Fitzgerald boosted their price objective on Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. HSBC reiterated a “buy” rating and set a $425.00 target price on shares of Amgen in a research report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Finally, Erste Group Bank raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $338.50.

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.