Great Lakes Advisors LLC Has $36.71 Million Stock Position in Amgen Inc. $AMGN

by · The Cerbat Gem

Great Lakes Advisors LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 13.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 118,529 shares of the medical research company’s stock after selling 17,760 shares during the quarter. Great Lakes Advisors LLC’s holdings in Amgen were worth $36,709,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Forum Financial Management LP grew its position in Amgen by 0.7% in the fourth quarter. Forum Financial Management LP now owns 352,784 shares of the medical research company’s stock worth $91,950,000 after acquiring an additional 2,411 shares in the last quarter. Algert Global LLC increased its position in shares of Amgen by 25.8% during the 4th quarter. Algert Global LLC now owns 1,035 shares of the medical research company’s stock valued at $270,000 after purchasing an additional 212 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Amgen by 93.9% during the fourth quarter. Focus Partners Wealth now owns 187,862 shares of the medical research company’s stock worth $49,857,000 after acquiring an additional 90,978 shares in the last quarter. Finally, Gotham Asset Management LLC raised its position in Amgen by 1.6% in the 4th quarter. Gotham Asset Management LLC now owns 21,738 shares of the medical research company’s stock worth $5,666,000 after purchasing an additional 333 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Trading Up 1.3%

AMGN stock opened at $283.64 on Monday. The company has a market capitalization of $152.70 billion, a PE ratio of 23.19, a P/E/G ratio of 2.46 and a beta of 0.49. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. The firm’s 50-day moving average is $293.85 and its 200 day moving average is $292.56. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter last year, the firm posted $4.97 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, 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. Shareholders of record on Friday, August 22nd will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen’s payout ratio is 77.84%.

Insider Buying and Selling at Amgen

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AMGN shares. Guggenheim began coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price on the stock. UBS Group cut their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Piper Sandler boosted their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $304.43.

Get Our Latest Stock Report on Amgen

Amgen Profile

(Free Report)

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.

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