Wellington Management Group LLP boosted its holdings in Amgen Inc. (NASDAQ:AMGN – Free Report) by 1,102.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,742,271 shares of the medical research company’s stock after acquiring an additional 2,514,254 shares during the quarter. Wellington Management Group LLP’s holdings in Amgen were worth $993,031,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Adell Harriman & Carpenter Inc. raised its holdings in shares of Amgen by 7.9% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company’s stock valued at $7,204,000 after acquiring an additional 1,609 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Amgen during the fourth quarter worth about $22,441,000. Sigma Planning Corp increased its position in shares of Amgen by 24.0% in the fourth quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company’s stock worth $5,889,000 after purchasing an additional 3,488 shares during the last quarter. National Pension Service increased its position in shares of Amgen by 4.7% in the fourth quarter. National Pension Service now owns 1,239,549 shares of the medical research company’s stock worth $405,717,000 after purchasing an additional 55,489 shares during the last quarter. Finally, Integrated Advisors Network LLC raised its stake in Amgen by 50.5% in the first quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company’s stock valued at $6,664,000 after purchasing an additional 6,356 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.
Amgen Price Performance
AMGN stock opened at $432.42 on Friday. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. Amgen Inc. has a 52 week low of $269.77 and a 52 week high of $447.03. The firm’s fifty day moving average is $388.64 and its 200 day moving average is $364.71. The firm has a market cap of $233.78 billion, a P/E ratio of 26.88, a P/E/G ratio of 3.16 and a beta of 0.41.
Amgen Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 21st. Amgen’s payout ratio is 62.65%.
Insider Transactions at Amgen
In related news, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the sale, the senior vice president directly owned 6,404 shares in the company, valued at $2,666,817.72. This represents a 16.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is currently owned by corporate insiders.
Key Stories Impacting Amgen
Here are the key news stories impacting Amgen this week:
- Positive Sentiment: Tezspire expands its potential market. Amgen and AstraZeneca reported that Tezspire met both co-primary and all key secondary endpoints in the Phase 3 CROSSING study for eosinophilic esophagitis (EoE). Improvements in tissue inflammation and swallowing symptoms were statistically significant, clinically meaningful and sustained through 52 weeks. EoE could become Tezspire’s third approved indication, adding a potentially significant growth opportunity beyond asthma and chronic rhinosinusitis with nasal polyps. Tezspire Phase 3 EoE Results
- Positive Sentiment: Recent financial performance remains supportive. Amgen’s latest reported quarter exceeded analyst expectations for both earnings and revenue, with revenue increasing year over year. Strong results and full-year guidance have helped keep the stock near its 52-week high and provide a favorable backdrop for pipeline news. Amgen Earnings and Guidance
- Neutral Sentiment: Additional pipeline updates offer limited near-term valuation impact. Amgen provided updates on a pediatric psoriasis study involving apremilast and began a Phase 1 trial of AMG 691 aimed at markets in Asia. These programs may support long-term growth, but both remain too early to materially affect current earnings expectations. Amgen Pediatric Psoriasis Study
- Negative Sentiment: Amgen ended its Crohn’s disease research partnership with TScan Therapeutics. Terminating the collaboration removes an external source of potential inflammatory bowel disease assets and may raise questions about the company’s strategy in this research area. The impact is likely limited near term because the program was still focused on target discovery. Amgen Ends Crohn’s Research Partnership
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Morgan Stanley restated an “overweight” rating and set a $362.00 price objective on shares of Amgen in a research report on Wednesday, August 19th. The Goldman Sachs Group set a $389.00 price objective on shares of Amgen in a report on Friday, June 5th. Robert W. Baird upped their target price on shares of Amgen from $215.00 to $230.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 5th. Finally, Scotiabank increased their target price on Amgen from $385.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $380.43.
Check Out Our Latest Report on AMGN
About Amgen
Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.
Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.
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