Wellington Shields Capital Management LLC Trims Position in Amgen Inc. $AMGN

Wellington Shields Capital Management LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,582 shares of the medical research company’s stock after selling 224 shares during the period. Wellington Shields Capital Management LLC’s holdings in Amgen were worth $1,000,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMGN. Vanguard Group Inc. grew its stake in shares of Amgen by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after purchasing an additional 148,658 shares during the last quarter. Royal Bank of Canada grew its position in Amgen by 6.0% in the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock valued at $1,521,339,000 after buying an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Amgen by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock valued at $1,387,695,000 after buying an additional 243,306 shares during the period. Deutsche Bank AG raised its position in Amgen by 1.6% during the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock worth $1,017,525,000 after buying an additional 52,734 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Amgen by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock worth $940,989,000 after buying an additional 22,820 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 2.2%

Shares of NASDAQ AMGN opened at $298.43 on Monday. The firm has a market cap of $160.66 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49. 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 Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The firm’s 50 day moving average price is $287.75 and its 200 day moving average price is $287.49.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, November 21st. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen’s payout ratio is presently 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’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 transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the topic of several analyst reports. UBS Group lowered their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Morgan Stanley increased their target price on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, Bank of America lifted their price target on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $300.94.

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.