Schnieders Capital Management LLC Sells 1,891 Shares of Amgen Inc. (NASDAQ:AMGN)

Key Points

• Schnieders Capital Management LLC reduced its stake in Amgen Inc. by 8.6%, selling 1,891 shares during the 1st quarter, leaving them with 20,006 shares valued at approximately $6.23 million.
• Amgen recently reported $9.18 billion in revenue for the quarter, exceeding estimates, with a significant increase in earnings per share to $6.02.
• The company declared a quarterly dividend of $2.38 per share, translating to an annualized yield of 3.2%, and setting its dividend payout ratio at 86.86%.

Schnieders Capital Management LLC lowered its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,006 shares of the medical research company's stock after selling 1,891 shares during the quarter. Amgen comprises approximately 1.3% of Schnieders Capital Management LLC's portfolio, making the stock its 22nd largest holding. Schnieders Capital Management LLC's holdings in Amgen were worth $6,233,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AMGN. Vanguard Group Inc. increased its stake in Amgen by 0.3% in the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock valued at $16,471,790,000 after acquiring an additional 148,658 shares during the last quarter. Capital International Investors increased its stake in Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after acquiring an additional 3,495,503 shares during the last quarter. Capital World Investors increased its stake in Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after acquiring an additional 6,029,058 shares during the last quarter. Northern Trust Corp increased its stake in Amgen by 15.8% in the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after acquiring an additional 875,254 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Amgen by 15.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company's stock valued at $1,336,647,000 after acquiring an additional 685,785 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Amgen Stock Down 0.6%

AMGN stock opened at $300.08 on Wednesday. The firm has a market cap of $161.36 billion, a PE ratio of 27.38, a P/E/G ratio of 2.61 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The firm's fifty day moving average is $293.06 and its 200 day moving average is $292.45. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the business earned $4.97 earnings per share. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is currently 86.86%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group upped their price target on shares of Amgen from $315.00 to $326.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Citigroup increased their target price on shares of Amgen from $300.00 to $305.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Piper Sandler reiterated an "overweight" rating and set a $328.00 target price on shares of Amgen in a report on Friday, June 27th. Finally, Mizuho raised their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $307.27.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.69% of the company's stock.

Amgen 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.

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