Amgen Inc. $AMGN Stock Position Trimmed by Oak Asset Management LLC

Oak Asset Management LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,161 shares of the medical research company’s stock after selling 2,619 shares during the quarter. Amgen comprises 5.6% of Oak Asset Management LLC’s holdings, making the stock its 3rd largest position. Oak Asset Management LLC’s holdings in Amgen were worth $16,413,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Amgen by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after acquiring an additional 841,117 shares during the last quarter. State Street Corp raised its holdings in shares of Amgen by 0.6% during the second quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock worth $8,196,775,000 after purchasing an additional 177,035 shares during the last quarter. Geode Capital Management LLC lifted its position in Amgen by 2.3% during the second quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock valued at $3,619,489,000 after purchasing an additional 291,271 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Amgen by 5.6% in the second 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 purchasing an additional 687,735 shares during the last quarter. Finally, Laurel Wealth Advisors LLC grew its position in Amgen by 27,765.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock worth $1,870,880,000 after purchasing an additional 6,676,575 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMGN. The Goldman Sachs Group reissued a “buy” rating on shares of Amgen in a report on Tuesday, November 25th. Wells Fargo & Company boosted their price target on Amgen from $300.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Citigroup boosted their target price on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Finally, DZ Bank raised their price target on shares of Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $334.14.

Amgen Trading Down 0.3%

Shares of NASDAQ:AMGN opened at $328.49 on Wednesday. The business’s 50 day moving average price is $324.05 and its 200-day moving average price is $302.22. Amgen Inc. has a 1 year low of $257.05 and a 1 year high of $346.38. The firm has a market capitalization of $176.89 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 3.06 and a beta of 0.45. 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 (NASDAQ:AMGN) last posted 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 during the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a yield of 3.1%. This is a boost from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio is 73.57%.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the sale, 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 legal filing with the SEC, which is available at this link. Also, 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 value of $2,317,053.57. Following the sale, the executive vice president owned 41,923 shares of the company’s stock, valued at $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 10,908 shares of company stock worth $3,674,966. Insiders own 0.69% of the company’s stock.

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.