Hodges Capital Management Inc. Sells 2,392 Shares of Amgen Inc. $AMGN

Hodges Capital Management Inc. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 16.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,750 shares of the medical research company’s stock after selling 2,392 shares during the quarter. Hodges Capital Management Inc.’s holdings in Amgen were worth $3,281,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AMGN. OLD National Bancorp IN raised its stake in shares of Amgen by 296.2% during the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after purchasing an additional 13,460 shares in the last quarter. Atlantic Union Bankshares Corp increased its holdings in Amgen by 165.0% during the second quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock worth $2,972,000 after buying an additional 6,627 shares during the last quarter. Trinity Legacy Partners LLC raised its position in Amgen by 3.9% during the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after acquiring an additional 612 shares in the last quarter. Founders Financial Alliance LLC raised its position in Amgen by 2.7% during the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock worth $491,000 after acquiring an additional 42 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in Amgen by 14.2% in the second quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after acquiring an additional 11,888 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value 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 $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is currently owned by company insiders.

Amgen Price Performance

NASDAQ:AMGN opened at $320.20 on Monday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The firm has a market cap of $172.42 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 2.61 and a beta of 0.45. The firm’s 50-day simple moving average is $289.94 and its 200 day simple moving average is $288.65. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter in the previous year, the firm posted $5.58 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a yield of 3.0%. Amgen’s dividend payout ratio is currently 73.57%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMGN. Cantor Fitzgerald boosted their price objective on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Company boosted their price target on Amgen from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Guggenheim lifted their target price on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $308.83.

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.