Atle Fund Management AB Decreases Holdings in Amgen Inc. $AMGN

Core Viewpoint - Amgen Inc. has seen significant changes in institutional ownership, with various investors adjusting their stakes, and the company recently reported strong quarterly earnings that exceeded analyst expectations [2][3][6]. Institutional Holdings - Atle Fund Management AB reduced its holdings in Amgen by 42.2%, owning 13,806 shares valued at $3,896,000, making it the 26th largest holding for the firm [2]. - Sequoia Financial Advisors LLC increased its stake by 2.3%, now holding 160,646 shares valued at $45,334,000 after acquiring an additional 3,619 shares [3]. - OLD National Bancorp IN raised its holdings by 296.2%, owning 18,004 shares valued at $5,027,000 after acquiring 13,460 shares [3]. - Atlantic Union Bankshares Corp increased its position by 165.0%, now owning 10,643 shares worth $2,972,000 [3]. - D.A. Davidson & CO. grew its position by 2.6%, owning 243,054 shares valued at $68,590,000 after purchasing 6,222 shares [3]. - Hedge funds and institutional investors collectively own 76.50% of Amgen's stock [3]. Analyst Ratings - Daiwa Capital Markets raised its target price for Amgen from $310.00 to $370.00, rating it "outperform" [4]. - Piper Sandler increased its price objective from $342.00 to $381.00, also rating it "overweight" [4]. - Oppenheimer set a price target of $400.00 with an "outperform" rating [4]. - Royal Bank Of Canada raised its target from $330.00 to $335.00, maintaining an "outperform" rating [4]. - Guggenheim increased its price target from $288.00 to $305.00, giving a "neutral" rating [4]. - The consensus rating for Amgen is "Moderate Buy" with an average price target of $342.45 [4]. Financial Performance - Amgen reported an EPS of $5.64 for the last quarter, surpassing the consensus estimate of $5.01 by $0.63 [6]. - The company generated revenue of $9.56 billion, exceeding expectations of $8.98 billion, with a year-over-year revenue increase of 12.4% [6]. - Amgen's return on equity was 162.59% and net margin was 19.47% [6]. - The company has set its FY 2025 guidance at an EPS range of 20.600-21.400 [6]. Dividend Information - Amgen declared a quarterly dividend of $2.52 per share, representing an annualized dividend of $10.08 and a yield of 2.9% [7]. - This is an increase from the previous quarterly dividend of $2.38, with a payout ratio of 73.57% [7]. Insider Transactions - SVP Rachna Khosla sold 890 shares at an average price of $336.24, totaling $299,253.60, reducing ownership by 11.16% [9]. - EVP Murdo Gordon sold 6,879 shares at an average price of $336.83, totaling $2,317,053.57, reducing ownership by 14.10% [9]. - Insiders sold a total of 10,908 shares worth $3,674,966 in the last quarter, with insiders owning 0.76% of the company's stock [9]. Company Overview - Amgen Inc. is a global biotechnology company focused on developing human therapeutics for serious illnesses, emphasizing biologic medicines derived from cellular and molecular biology [10]. - The company's commercial portfolio includes biologics used in oncology, supportive care, nephrology, bone health, and cardiovascular disease [11]. Stock Performance - Amgen's stock opened at $341.88, with a market capitalization of $184.10 billion and a price-to-earnings ratio of 26.42 [5]. - The stock has a 1-year low of $261.43 and a high of $353.25, with a debt-to-equity ratio of 5.45 [5]. - The fifty-day moving average price is $332.60, and the 200-day moving average price is $309.34 [5].