Nelson Capital Management LLC Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Nelson Capital Management LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,471 shares of the medical research company’s stock after acquiring an additional 217 shares during the quarter. Nelson Capital Management LLC’s holdings in Amgen were worth $4,101,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Edgestream Partners L.P. lifted its stake in shares of Amgen by 250.3% in the second quarter. Edgestream Partners L.P. now owns 5,391 shares of the medical research company’s stock worth $1,197,000 after buying an additional 3,852 shares in the last quarter. Oxford Financial Group Ltd. lifted its position in Amgen by 41.1% in the 2nd quarter. Oxford Financial Group Ltd. now owns 3,257 shares of the medical research company’s stock valued at $723,000 after acquiring an additional 949 shares in the last quarter. Personal CFO Solutions LLC boosted its stake in Amgen by 4.1% during the 2nd quarter. Personal CFO Solutions LLC now owns 2,787 shares of the medical research company’s stock valued at $619,000 after purchasing an additional 110 shares during the last quarter. Legacy Capital Group California Inc. increased its holdings in shares of Amgen by 2.9% in the 2nd quarter. Legacy Capital Group California Inc. now owns 3,106 shares of the medical research company’s stock worth $690,000 after purchasing an additional 87 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Amgen by 0.5% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 582,119 shares of the medical research company’s stock worth $129,237,000 after purchasing an additional 2,709 shares during the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.

Insider Buying and Selling at Amgen

In other news, EVP Jonathan P. Graham sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $272.81, for a total value of $2,728,100.00. Following the transaction, the executive vice president now owns 28,078 shares of the company’s stock, valued at $7,659,959.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Jonathan P. Graham sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $272.81, for a total transaction of $2,728,100.00. Following the completion of the transaction, the executive vice president now directly owns 28,078 shares of the company’s stock, valued at $7,659,959.18. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Amgen Inc purchased 1,764,705 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were purchased at an average price of $17.00 per share, with a total value of $29,999,985.00. Following the acquisition, the insider now directly owns 35,368,653 shares in the company, valued at $601,267,101. The disclosure for this purchase can be found here. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMGN. Bank of America began coverage on Amgen in a research report on Wednesday, October 11th. They set a “neutral” rating and a $290.00 price objective on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $270.00 price target on shares of Amgen in a research note on Friday, October 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amgen in a research report on Thursday, November 9th. They set a “hold” rating and a $240.00 price objective on the stock. Truist Financial raised shares of Amgen from a “hold” rating to a “buy” rating and lifted their target price for the stock from $260.00 to $320.00 in a research report on Thursday, November 2nd. Finally, Mizuho increased their price target on Amgen from $214.00 to $223.00 and gave the company a “neutral” rating in a report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $278.15.

Amgen Price Performance

Shares of AMGN stock traded down $3.61 on Friday, hitting $265.39. 2,642,931 shares of the stock traded hands, compared to its average volume of 2,476,674. The company has a debt-to-equity ratio of 7.71, a current ratio of 2.86 and a quick ratio of 2.56. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $291.60. The firm has a 50 day simple moving average of $269.59 and a two-hundred day simple moving average of $247.35. The firm has a market cap of $142.03 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 2.61 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, October 31st. The medical research company reported $4.96 EPS for the quarter, beating analysts’ consensus estimates of $4.65 by $0.31. The business had revenue of $6.90 billion for the quarter, compared to analysts’ expectations of $6.92 billion. Amgen had a return on equity of 165.37% and a net margin of 28.20%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $4.70 earnings per share. As a group, equities research analysts predict that Amgen Inc. will post 18.65 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be paid a $2.13 dividend. The ex-dividend date is Thursday, November 16th. This represents a $8.52 annualized dividend and a yield of 3.21%. Amgen’s payout ratio is 60.55%.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.