Wellington Management Group LLP Has $76.54 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Wellington Management Group LLP raised its position in Amgen Inc. (NASDAQ:AMGN) by 22.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 293,675 shares of the medical research company’s stock after buying an additional 54,321 shares during the period. Wellington Management Group LLP owned 0.05% of Amgen worth $76,543,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in Amgen in the third quarter worth $150,000. Texas Capital Bank Wealth Management Services Inc lifted its position in Amgen by 144.0% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,747 shares of the medical research company’s stock worth $563,000 after buying an additional 1,031 shares in the last quarter. Two Sigma Advisers LP grew its holdings in Amgen by 9.5% during the 3rd quarter. Two Sigma Advisers LP now owns 784,900 shares of the medical research company’s stock worth $252,903,000 after acquiring an additional 68,000 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in Amgen by 38.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 93,668 shares of the medical research company’s stock valued at $30,181,000 after acquiring an additional 25,806 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Amgen by 10.1% in the third quarter. EP Wealth Advisors LLC now owns 32,852 shares of the medical research company’s stock worth $10,585,000 after acquiring an additional 3,024 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the transaction, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 in the last quarter. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Down 5.0 %

Shares of AMGN stock opened at $294.39 on Friday. The company has a market capitalization of $158.15 billion, a price-to-earnings ratio of 38.99, a P/E/G ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm has a fifty day moving average of $304.18 and a 200-day moving average of $297.49. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. As a group, equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.23%. Amgen’s dividend payout ratio is 126.09%.

Analysts Set New Price Targets

AMGN has been the subject of a number of research reports. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Piper Sandler lifted their target price on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Truist Financial cut their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Citigroup reiterated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.04.

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.