Generali Asset Management SPA SGR Trims Stock Position in Amgen Inc. $AMGN

Generali Asset Management SPA SGR cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,593 shares of the medical research company’s stock after selling 867 shares during the period. Generali Asset Management SPA SGR’s holdings in Amgen were worth $10,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Amgen by 0.3% in the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock worth $16,471,790,000 after buying an additional 148,658 shares during the last quarter. Royal Bank of Canada lifted its holdings in Amgen by 6.0% in the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock valued at $1,521,339,000 after acquiring an additional 274,488 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Amgen by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock valued at $1,387,695,000 after acquiring an additional 243,306 shares during the period. Deutsche Bank AG boosted its position in Amgen by 1.6% in the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock worth $1,017,525,000 after purchasing an additional 52,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Amgen by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock worth $940,989,000 after purchasing an additional 22,820 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent research reports. Piper Sandler lifted their target price on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. UBS Group dropped their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Raymond James Financial began coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Finally, Citigroup raised their target price on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $309.42.

Amgen Stock Up 0.5%

AMGN stock opened at $293.85 on Wednesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. 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 firm has a 50-day simple moving average of $286.46 and a 200-day simple moving average of $287.37. The stock has a market capitalization of $158.20 billion, a P/E ratio of 24.03, a P/E/G ratio of 2.54 and a beta of 0.49.

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

Amgen Announces Dividend

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

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.69% of the company’s stock.

Amgen Company Profile

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.