Princeton Capital Management LLC Sells 208 Shares of Amgen Inc. $AMGN

Princeton Capital Management LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,360 shares of the medical research company’s stock after selling 208 shares during the quarter. Princeton Capital Management LLC’s holdings in Amgen were worth $1,217,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AMGN. Vanguard Group Inc. lifted its stake in Amgen by 0.3% in the 1st 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 in the last quarter. Royal Bank of Canada increased its holdings in shares of Amgen by 6.0% in the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock worth $1,521,339,000 after purchasing an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Amgen by 5.8% in 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 buying an additional 243,306 shares in the last quarter. Deutsche Bank AG boosted its stake in Amgen by 1.6% during the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock valued at $1,017,525,000 after buying an additional 52,734 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Amgen by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock valued at $940,989,000 after buying an additional 22,820 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $315.59 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The company has a market capitalization of $169.90 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 2.61 and a beta of 0.45. The firm’s 50-day moving average is $289.29 and its 200 day moving average is $288.18.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.01 by $0.63. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a yield of 3.0%. Amgen’s dividend payout ratio (DPR) is presently 73.57%.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction 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 transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMGN. The Goldman Sachs Group cut their target price on shares of Amgen from $405.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday. Cantor Fitzgerald boosted their target price on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday. Bank of America upped their target price on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Finally, Raymond James Financial began coverage on Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $307.89.

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.