Amgen Inc. $AMGN Shares Acquired by Cwm LLC

Key Points

• Cwm LLC increased its stake in Amgen Inc. by 2.9%, now owning 154,418 shares valued at $43.1 million.
• Amgen's quarterly earnings showed $6.02 EPS, exceeding estimates, with a revenue of $9.18 billion for the quarter, indicating a 9.4% year-over-year increase.
• Investors recently received a dividend of $2.38 per share, resulting in an annualized dividend of $9.52 and a yield of 3.3%.

Cwm LLC grew its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 154,418 shares of the medical research company's stock after purchasing an additional 4,306 shares during the period. Cwm LLC's holdings in Amgen were worth $43,115,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Amgen by 0.3% in the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock valued at $16,471,790,000 after acquiring an additional 148,658 shares during the period. Royal Bank of Canada boosted its position 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 purchasing an additional 274,488 shares in the last quarter. Goldman Sachs Group Inc. boosted its position 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 purchasing an additional 243,306 shares in the last quarter. Deutsche Bank AG boosted its position 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 purchasing an additional 52,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 purchasing an additional 22,820 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on AMGN. Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research report on Saturday. Bank of America raised their price objective on Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a report on Friday, September 26th. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. UBS Group dropped their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Finally, Piper Sandler raised their price objective on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday, August 25th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $309.42.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $290.13 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 business's 50 day moving average price is $286.77 and its 200-day moving average price is $287.55. The firm has a market capitalization of $156.19 billion, a PE ratio of 23.72, a P/E/G ratio of 2.52 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly 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. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities research analysts expect 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 was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. Amgen's dividend payout ratio (DPR) is presently 77.84%.

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.

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