Ameriprise Financial Inc. Acquires 96,851 Shares of Amgen Inc. $AMGN

Key Points

• Ameriprise Financial Inc. increased its stake in Amgen Inc. by 4.8% during the first quarter, bringing its total shares owned to 2,122,717, valued at approximately $662.7 million.
• Several other institutional investors, including KPP Advisory Services LLC and Stratos Investment Management LLC, also significantly increased their holdings in Amgen during the same period.
• Amgen recently announced a quarterly dividend of $2.38 per share, which translates to an annualized dividend yield of 3.2%.

Ameriprise Financial Inc. boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,122,717 shares of the medical research company's stock after purchasing an additional 96,851 shares during the period. Ameriprise Financial Inc. owned 0.39% of Amgen worth $662,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Amgen by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock valued at $16,471,790,000 after purchasing an additional 148,658 shares in the last quarter. Northern Trust Corp increased its holdings in Amgen by 15.8% during the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after purchasing an additional 875,254 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Amgen by 15.4% during the 4th 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. increased its holdings in Amgen by 5.8% during the 1st 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. Finally, GAMMA Investing LLC increased its holdings in Amgen by 43,573.5% during the 1st 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. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.69% of the stock is owned by company insiders.

Amgen Trading Down 0.7%

Shares of NASDAQ:AMGN traded down $2.04 during midday trading on Friday, hitting $293.72. The company had a trading volume of 1,643,970 shares, compared to its average volume of 2,113,760. Amgen Inc. has a 12 month low of $253.30 and a 12 month 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 stock has a market cap of $158.13 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 2.53 and a beta of 0.49. The firm has a fifty day simple moving average of $293.43 and a 200 day simple moving average of $293.14.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly 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. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the company earned $4.97 EPS. The firm's revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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 given a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AMGN shares. UBS Group dropped their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Piper Sandler reaffirmed an "overweight" rating and set a $328.00 price target on shares of Amgen in a report on Friday, June 27th. Royal Bank Of Canada decreased their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley increased their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. One 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 given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $303.76.

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.