Wellington Management Group LLP Has $80.12 Million Stock Position in Amgen Inc. $AMGN

Key Points

• Wellington Management Group LLP has reduced its stake in Amgen Inc. by 12.4%, now holding 257,158 shares valued at approximately $80.12 million.
• Major institutional investors, such as Vanguard Group and Northern Trust, have increased their holdings in Amgen, indicating continued interest and confidence in the company.
• Amgen reported earnings of $6.02 per share for the last quarter, surpassing estimates, with a revenue of $9.18 billion, reflecting a 9.4% year-over-year increase.

Wellington Management Group LLP reduced its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 12.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 257,158 shares of the medical research company's stock after selling 36,517 shares during the period. Wellington Management Group LLP's holdings in Amgen were worth $80,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Amgen by 0.3% during the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock worth $16,471,790,000 after purchasing an additional 148,658 shares during the period. Northern Trust Corp grew its stake in shares of Amgen by 15.8% during the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock worth $1,676,183,000 after purchasing an additional 875,254 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Amgen by 15.4% during 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 worth $1,336,647,000 after purchasing an additional 685,785 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Amgen by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company's stock worth $1,387,695,000 after purchasing an additional 243,306 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after purchasing an additional 3,653,205 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research analyst reports. UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada decreased their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and issued a $328.00 target price on shares of Amgen in a research note on Friday, June 27th. Finally, Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $303.76.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate insiders.

Amgen Price Performance

Amgen stock opened at $293.72 on Friday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. The stock's 50 day moving average is $293.43 and its 200-day moving average is $293.27. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company has a market capitalization of $158.13 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 2.55 and a beta of 0.49.

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 the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the prior year, the business earned $4.97 earnings per share. The firm'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. Equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen's dividend payout ratio is presently 77.84%.

About Amgen

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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