Amgen Inc. $AMGN Shares Bought by Carnegie Investment Counsel

Carnegie Investment Counsel raised its position in Amgen Inc. (NASDAQ:AMGN) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,926 shares of the medical research company’s stock after acquiring an additional 103 shares during the period. Carnegie Investment Counsel’s holdings in Amgen were worth $28,459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after buying an additional 5,226 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Amgen by 40.2% in the first quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company’s stock worth $3,662,000 after buying an additional 3,369 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Amgen in the first quarter worth $276,000. First Pacific Financial raised its holdings in shares of Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after buying an additional 67 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Amgen by 165.9% in the first quarter. Golden State Wealth Management LLC now owns 4,871 shares of the medical research company’s stock worth $1,518,000 after buying an additional 3,039 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AMGN shares. Raymond James Financial started coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Piper Sandler raised their price target on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. UBS Group decreased their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Finally, Bank of America raised their price target on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $300.94.

Amgen Trading Down 1.0%

Shares of Amgen stock opened at $292.89 on Friday. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The firm has a fifty day moving average price of $288.02 and a 200 day moving average price of $287.23. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The stock has a market cap of $157.68 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 2.62 and a beta of 0.49.

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

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Insider Buying and Selling

In related 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 transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

About Amgen

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.