2,300 Shares in Amgen Inc. $AMGN Acquired by CTC Alternative Strategies Ltd.

Key Points

• CTC Alternative Strategies Ltd. has acquired 2,300 shares of Amgen Inc., valued at approximately $717,000, making it the 28th largest position in their portfolio.
• Amgen's recent earnings report disclosed an EPS of $6.02, exceeding analyst expectations of $5.28, while year-over-year revenue grew by 9.4% to $9.18 billion.
• The company announced a quarterly dividend of $2.38 per share, reflecting an annualized yield of 3.4%, with a dividend payout ratio of 77.84%.

CTC Alternative Strategies Ltd. purchased a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,300 shares of the medical research company's stock, valued at approximately $717,000. Amgen accounts for approximately 0.9% of CTC Alternative Strategies Ltd.'s holdings, making the stock its 28th biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. KPP Advisory Services LLC increased its holdings in Amgen by 87.1% in the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after buying an additional 2,716 shares during the period. Advisor Resource Council acquired a new stake in shares of Amgen during the 1st quarter worth approximately $1,331,000. Trinity Legacy Partners LLC grew its stake in shares of Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock worth $5,026,000 after purchasing an additional 612 shares during the period. DLK Investment Management LLC grew its stake in shares of Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after purchasing an additional 1,387 shares during the period. Finally, Founders Financial Alliance LLC grew its stake in shares of Amgen by 2.7% during the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock worth $491,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Up 1.3%

Shares of AMGN opened at $283.64 on Monday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The company has a market capitalization of $152.70 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. The stock has a fifty day simple moving average of $293.85 and a two-hundred day simple moving average of $292.56. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period last year, the company earned $4.97 EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMGN. Raymond James Financial began coverage on Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Morgan Stanley increased their target price on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. William Blair reiterated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Guggenheim started coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $304.43.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction dated 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 directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.69% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.