Shelton Capital Management Sells 368 Shares of Amgen Inc. $AMGN

Shelton Capital Management lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,444 shares of the medical research company’s stock after selling 368 shares during the quarter. Shelton Capital Management’s holdings in Amgen were worth $23,298,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AMGN. Laurel Wealth Advisors LLC increased its stake in shares of Amgen by 27,765.8% in the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after buying an additional 6,676,575 shares in the last quarter. Norges Bank acquired a new position in shares of Amgen during the second quarter worth approximately $1,663,726,000. Nuveen LLC acquired a new stake in Amgen in the first quarter worth about $688,868,000. Vanguard Group Inc. boosted its stake in Amgen by 1.6% in the second quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after acquiring an additional 841,117 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Amgen by 5.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock worth $3,600,043,000 after acquiring an additional 687,735 shares during the period. Institutional investors own 76.50% of the company’s stock.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the completion of the sale, the senior vice president owned 7,225 shares in the company, valued at $2,436,703.50. This trade represents a 30.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the transaction, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 10,908 shares of company stock valued at $3,674,966. 0.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMGN shares. Piper Sandler raised their price target on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Truist Financial initiated coverage on Amgen in a research note on Monday, November 24th. They issued a “hold” rating and a $318.00 price target for the company. UBS Group lowered their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Cantor Fitzgerald lifted their target price on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, Daiwa Capital Markets increased their price target on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average target price of $333.74.

Amgen Price Performance

NASDAQ AMGN opened at $344.65 on Monday. The firm’s 50 day moving average is $307.51 and its 200-day moving average is $295.14. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The company has a market capitalization of $185.59 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $345.84.

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

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be paid 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 dividend yield of 2.8%. Amgen’s dividend payout ratio is currently 73.57%.

Amgen Company 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.