Westwood Holdings Group Inc. Sells 2,733 Shares of Amgen Inc. $AMGN

by · The Cerbat Gem

Westwood Holdings Group Inc. reduced its position in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 17.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,873 shares of the medical research company’s stock after selling 2,733 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Amgen were worth $3,594,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new position in shares of Amgen during the first quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC raised its position in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 85 shares during the last quarter. Evelyn Partners Investment Management LLP bought a new position in Amgen during the 2nd quarter valued at approximately $32,000. Finally, Howard Hughes Medical Institute purchased a new stake in Amgen in the 2nd quarter worth approximately $32,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 2.4%

NASDAQ:AMGN opened at $325.31 on Tuesday. The firm has a market capitalization of $175.17 billion, a P/E ratio of 25.14, a PEG ratio of 2.87 and a beta of 0.45. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99. Amgen Inc. has a one year low of $253.30 and a one year high of $346.38. The company’s 50-day simple moving average is $316.75 and its 200 day simple moving average is $299.22.

Amgen (NASDAQ:AMGN – Get Free Report) last released 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. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same period last year, the business earned $5.58 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be paid a dividend of $2.52 per share. The ex-dividend date is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 dividend on an annualized basis and a yield of 3.1%. Amgen’s dividend payout ratio (DPR) is presently 73.57%.

Analysts Set New Price Targets

A number of brokerages recently commented on AMGN. The Goldman Sachs Group restated a “buy” rating on shares of Amgen in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. Bank of America boosted their price target 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. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, HSBC reaffirmed a “buy” rating and set a $425.00 price objective on shares of Amgen in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $332.85.

View Our Latest Stock Analysis on Amgen

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the transaction, the senior vice president owned 7,082 shares in the company, valued at $2,381,251.68. The trade was a 11.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the sale, the executive vice president directly owned 41,923 shares in the company, valued at $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 10,908 shares of company stock valued at $3,674,966. 0.69% of the stock is currently owned by corporate insiders.

Amgen Profile

(Free Report)

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.

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