Amgen Inc. $AMGN Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.1% during the 2nd quarter, Holdings Channel reports. The firm owned 3,242 shares of the medical research company’s stock after buying an additional 99 shares during the period. Cidel Asset Management Inc.’s holdings in Amgen were worth $905,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. OLD National Bancorp IN grew its position in shares of Amgen by 296.2% in the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after purchasing an additional 13,460 shares during the last quarter. KPP Advisory Services LLC boosted its position in Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock worth $1,817,000 after acquiring an additional 2,716 shares during the last quarter. Trinity Legacy Partners LLC boosted its position in Amgen by 3.9% during the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after acquiring an additional 612 shares during the last quarter. DLK Investment Management LLC boosted its position in Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock worth $6,384,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Founders Financial Alliance LLC boosted its position in Amgen by 2.7% during the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock worth $491,000 after acquiring an additional 42 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.69% of the company’s stock.

Amgen Trading Up 1.0%

Shares of AMGN opened at $298.81 on Monday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The firm has a market capitalization of $160.87 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 2.64 and a beta of 0.49. The stock’s fifty day simple moving average is $287.14 and its 200 day simple moving average is $286.99. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter last year, the firm posted $4.97 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMGN. Citigroup raised their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Piper Sandler raised their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Sunday. Raymond James Financial started coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $305.50.

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.