Amgen Inc. $AMGN Stake Boosted by Kanawha Capital Management LLC

Kanawha Capital Management LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 18.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,170 shares of the medical research company’s stock after purchasing an additional 186 shares during the quarter. Kanawha Capital Management LLC’s holdings in Amgen were worth $327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings 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 buying an additional 148,658 shares in the last quarter. Royal Bank of Canada grew its holdings in 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 in the last quarter. Goldman Sachs Group Inc. grew its holdings in Amgen by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock worth $1,387,695,000 after buying an additional 243,306 shares in the last quarter. Deutsche Bank AG grew its holdings in Amgen by 1.6% in the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock worth $1,017,525,000 after buying an additional 52,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Amgen by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company’s stock worth $940,989,000 after buying an additional 22,820 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Piper Sandler increased their price objective on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. UBS Group cut their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Sunday. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $305.50.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $298.81 on Friday. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The stock has a fifty day moving average of $287.14 and a 200-day moving average of $287.15. The company has a market capitalization of $160.87 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 2.64 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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 return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the prior year, the firm earned $4.97 EPS. The company’s quarterly 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. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio is 77.84%.

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.