Hoese & Co LLP Decreases Stock Holdings in Amgen Inc. $AMGN

Hoese & Co LLP reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 27.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160 shares of the medical research company’s stock after selling 60 shares during the quarter. Hoese & Co LLP’s holdings in Amgen were worth $45,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Amgen by 40.2% in the first quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company’s stock worth $3,662,000 after purchasing an additional 3,369 shares during the last quarter. Kingswood Wealth Advisors LLC grew its holdings in Amgen by 2.3% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,524 shares of the medical research company’s stock worth $1,096,000 after acquiring an additional 79 shares during the period. Johnson Investment Counsel Inc. grew its holdings in Amgen by 0.8% during the first quarter. Johnson Investment Counsel Inc. now owns 25,689 shares of the medical research company’s stock worth $8,004,000 after acquiring an additional 197 shares during the period. Finally, Boston Trust Walden Corp grew its holdings in Amgen by 15.5% during the first quarter. Boston Trust Walden Corp now owns 44,520 shares of the medical research company’s stock worth $13,870,000 after acquiring an additional 5,983 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on AMGN shares. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Morgan Stanley upped 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. Bank of America lifted their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Finally, William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $305.50.

Amgen Trading Up 1.0%

NASDAQ:AMGN opened at $298.81 on Friday. The stock has a 50-day simple moving average of $287.14 and a 200-day simple moving average of $287.27. The stock has a market cap of $160.87 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.61 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. 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 released 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. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated 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 sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is currently owned by company insiders.

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.