Generali Investments Management Co LLC Sells 295 Shares of Amgen Inc. $AMGN

Generali Investments Management Co LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,192 shares of the medical research company’s stock after selling 295 shares during the quarter. Generali Investments Management Co LLC’s holdings in Amgen were worth $1,727,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position 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 during the period. Geode Capital Management LLC boosted its stake in shares of Amgen by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock worth $3,619,489,000 after buying an additional 291,271 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Amgen by 6.0% in the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock worth $1,521,339,000 after buying an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings 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 acquiring an additional 243,306 shares during the period. Finally, Deutsche Bank AG increased its position 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 acquiring an additional 52,734 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMGN. Scotiabank began coverage on Amgen in a research report on Thursday. They issued a “sector outperform” rating and a $385.00 target price on the stock. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Morgan Stanley cut their target price on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Raymond James Financial began coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. Finally, Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $314.05.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $336.74 on Friday. The company has a market capitalization of $181.33 billion, a P/E ratio of 27.53, a P/E/G ratio of 2.61 and a beta of 0.45. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $345.84. The firm’s 50 day simple moving average is $294.91 and its two-hundred day simple moving average is $290.40. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

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

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a yield of 2.8%. Amgen’s dividend payout ratio (DPR) is currently 73.57%.

Insider Activity

In other news, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the transaction, the senior vice president owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the sale, the executive vice president owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This represents a 14.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,036 shares of company stock worth $2,992,594 over the last ninety days. Corporate insiders own 0.76% of the company’s stock.

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.