Catalyst Capital Advisors LLC Reduces Position in Amgen Inc. $AMGN

Catalyst Capital Advisors LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 21.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 326 shares of the medical research company’s stock after selling 91 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Amgen were worth $91,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in AMGN. Nuveen LLC purchased a new stake in shares of Amgen during the first quarter valued at $688,868,000. Federated Hermes Inc. grew its holdings in shares of Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock valued at $634,680,000 after buying an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Amgen by 128.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock valued at $332,017,000 after buying an additional 600,096 shares during the last quarter. WoodTrust Financial Corp boosted its holdings in Amgen by 8,223.6% in the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock valued at $166,307,000 after purchasing an additional 588,478 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in Amgen in the second quarter valued at $156,812,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is currently owned by insiders.

Amgen Trading Down 0.4%

AMGN stock opened at $291.76 on Friday. The company’s 50-day simple moving average is $287.92 and its 200-day simple moving average is $287.36. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. The firm has a market cap of $157.07 billion, a P/E ratio of 23.86, a PEG ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period in the prior year, the company posted $4.97 EPS. The company’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. As a group, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio is presently 77.84%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMGN. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. Citigroup upped their price target on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Bank of America upped their price target on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Morgan Stanley upped their price target on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Finally, Raymond James Financial began coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus target price of $300.94.

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.