Federation des caisses Desjardins du Quebec Has $9.24 Million Stock Holdings in Amgen Inc. $AMGN

Key Points

• The Federation des caisses Desjardins du Quebec increased its holdings in Amgen Inc. by 5.5% during Q1, now owning 29,650 shares valued at approximately $9.24 million.
• Amgen recently reported Q2 earnings of $6.02 EPS, surpassing estimates by $0.74, with revenue of $9.18 billion—an increase of 9.4% from the previous year.
• The company revealed a quarterly dividend of $2.38 per share, resulting in a 3.4% yield with an ex-dividend date on August 22.

Federation des caisses Desjardins du Quebec boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,650 shares of the medical research company's stock after buying an additional 1,538 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Amgen were worth $9,238,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Continuum Advisory LLC increased its position in Amgen by 0.7% during the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after buying an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC increased its position in Amgen by 1.5% during the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after buying an additional 35 shares during the last quarter. Affinity Capital Advisors LLC increased its position in Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after buying an additional 37 shares during the last quarter. Accredited Investors Inc. increased its position in Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after buying an additional 37 shares during the last quarter. Finally, Rockline Wealth Management LLC grew its position in shares of Amgen by 3.2% in the first quarter. Rockline Wealth Management LLC now owns 1,240 shares of the medical research company's stock valued at $386,000 after purchasing an additional 38 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN traded up $1.42 on Tuesday, reaching $281.61. The company had a trading volume of 485,124 shares, compared to its average volume of 2,778,373. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17. The stock has a market cap of $151.61 billion, a P/E ratio of 23.01, a P/E/G ratio of 2.46 and a beta of 0.49. The company's fifty day moving average is $293.87 and its 200 day moving average is $292.40. 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 - Get Free Report) last announced its quarterly 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 analyst estimates of $8.86 billion. During the same quarter in the prior year, the business earned $4.97 EPS. Amgen's quarterly revenue 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, analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders 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 is Friday, August 22nd. Amgen's dividend payout ratio is presently 77.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Bank of America raised their price target on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research report on Wednesday, July 23rd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Raymond James Financial began coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a "market perform" rating for the company. Piper Sandler lifted their target price on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Finally, Guggenheim initiated coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average 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 stock in a transaction that occurred 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company's stock.

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.