Trexquant Investment LP Cuts Position in Amgen Inc. $AMGN

Trexquant Investment LP lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 26.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,412 shares of the medical research company’s stock after selling 36,293 shares during the quarter. Trexquant Investment LP’s holdings in Amgen were worth $30,660,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Continuum Advisory LLC increased its position in shares of Amgen by 0.7% during the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock worth $1,343,000 after acquiring an additional 35 shares during the period. Octavia Wealth Advisors LLC increased its position in shares of Amgen by 1.5% during the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock worth $759,000 after acquiring an additional 35 shares during the period. Affinity Capital Advisors LLC increased its holdings in Amgen by 4.5% in the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock valued at $246,000 after buying an additional 37 shares during the last quarter. Accredited Investors Inc. increased its holdings in Amgen by 1.7% in the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock valued at $674,000 after buying an additional 37 shares during the last quarter. Finally, Rockline Wealth Management LLC increased its holdings in Amgen by 3.2% in the first quarter. Rockline Wealth Management LLC now owns 1,240 shares of the medical research company’s stock valued at $386,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.6%

AMGN opened at $287.97 on Thursday. The business has a 50 day moving average price of $293.25 and a two-hundred day moving average price of $293.04. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The company has a market cap of $155.03 billion, a PE ratio of 23.55, a P/E/G ratio of 2.49 and a beta of 0.49. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $339.17.

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

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen’s dividend payout ratio is 77.84%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AMGN shares. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Morgan Stanley increased their target price on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. 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 note on Wednesday, August 6th. Finally, Citigroup upped their price objective on shares of Amgen from $305.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $304.43.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 represents a 14.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

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.