Ieq Capital LLC Raises Stock Holdings in Amgen Inc. $AMGN

Key Points

• Ieq Capital LLC increased its stake in Amgen Inc. by 43.8%, now holding a total of 51,541 shares valued at approximately $16.06 million.
• Amgen reported earnings of $6.02 per share for the last quarter, exceeding estimates by $0.74, and saw revenue rise by 9.4% compared to the previous year.
• The company recently announced a quarterly dividend of $2.38 per share, translating to an annual yield of 3.3%, with a payout ratio of 77.84%.

Ieq Capital LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 43.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,541 shares of the medical research company's stock after acquiring an additional 15,711 shares during the quarter. Ieq Capital LLC's holdings in Amgen were worth $16,058,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in Amgen by 0.3% during the first 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Amgen by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company's stock valued at $1,336,647,000 after purchasing an additional 685,785 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Amgen by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company's stock valued at $1,387,695,000 after purchasing an additional 243,306 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after purchasing an additional 3,653,205 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of 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 acquiring an additional 52,734 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 transaction, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.76% of the company's stock.

Amgen Stock Performance

Shares of AMGN stock traded up $2.10 during trading hours on Friday, hitting $287.71. 1,302,709 shares of the company were exchanged, compared to its average volume of 2,094,510. The stock has a market capitalization of $154.89 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 2.50 and a beta of 0.49. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The firm has a fifty day simple moving average of $293.13 and a 200 day simple moving average of $292.92.

Amgen (NASDAQ:AMGN - Get Free Report) last posted 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. The business had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.3%. Amgen's payout ratio is currently 77.84%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMGN. UBS Group reduced their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Citigroup upped their target price on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Piper Sandler increased their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada lowered their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $304.43.

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.