Gabelli Funds LLC Cuts Holdings in Amgen Inc. $AMGN

Gabelli Funds LLC cut its stake in Amgen Inc. (NASDAQ:AMGN) by 4.3% during the 4th quarter, HoldingsChannel reports. The firm owned 59,900 shares of the medical research company’s stock after selling 2,700 shares during the quarter. Gabelli Funds LLC’s holdings in Amgen were worth $19,606,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. raised its position in Amgen by 10.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company’s stock valued at $157,584,000 after purchasing an additional 43,884 shares during the period. Curtis Advisory Group LLC acquired a new stake in shares of Amgen during the fourth quarter valued at about $1,669,000. Jones Financial Companies Lllp grew its stake in shares of Amgen by 18.2% during the third quarter. Jones Financial Companies Lllp now owns 39,778 shares of the medical research company’s stock valued at $10,888,000 after acquiring an additional 6,115 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new stake in shares of Amgen during the third quarter valued at about $2,624,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Amgen by 8.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 591,891 shares of the medical research company’s stock valued at $167,032,000 after acquiring an additional 47,958 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Amgen in a research note on Tuesday, March 10th. They set a “hold” rating and a $350.00 target price for the company. TD Cowen restated a “buy” rating on shares of Amgen in a research note on Wednesday, February 4th. Daiwa Securities Group lowered their target price on Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Rothschild & Co Redburn raised their target price on Amgen from $180.00 to $200.00 and gave the company a “sell” rating in a research note on Wednesday, February 18th. Finally, Piper Sandler lowered their target price on Amgen from $432.00 to $427.00 and set an “overweight” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $356.15.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the transaction, the senior vice president directly owned 7,009 shares in the company, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.85% of the company’s stock.

Amgen Stock Down 0.6%

NASDAQ:AMGN opened at $324.39 on Tuesday. The company has a market capitalization of $175.07 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 3.28 and a beta of 0.44. Amgen Inc. has a one year low of $267.83 and a one year high of $391.29. The stock has a 50-day simple moving average of $348.31 and a 200 day simple moving average of $343.59. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $4.77 by $0.38. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Sell-side analysts predict that Amgen Inc. will post 22.37 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be paid a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, May 15th. Amgen’s dividend payout ratio (DPR) is 70.15%.

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.