Amgen Inc. $AMGN Holdings Boosted by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its holdings in Amgen Inc. by 8.7%, owning over 1.6 million shares valued at approximately $522 million as of the end of the most recent quarter.
• Amgen reported a quarterly earnings of $6.02 per share, exceeding estimates, with revenues of $9.18 billion, marking a year-over-year increase of 9.4%.
• The company declared a $2.38 quarterly dividend, representing an annualized yield of 3.2%, with a payout ratio of 77.84% currently.

Raymond James Financial Inc. raised its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,676,345 shares of the medical research company's stock after acquiring an additional 134,321 shares during the period. Raymond James Financial Inc. owned approximately 0.31% of Amgen worth $522,265,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 148,658 shares during the period. Capital International Investors increased its stake in Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares in the last quarter. Capital World Investors raised its holdings in Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the last quarter. Northern Trust Corp boosted its position in Amgen by 15.8% during the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock worth $1,676,183,000 after purchasing an additional 875,254 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Amgen by 15.4% in 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 during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Up 0.3%

AMGN stock traded up $0.9820 during midday trading on Wednesday, hitting $296.5320. 1,095,640 shares of the company's stock were exchanged, compared to its average volume of 2,850,335. The firm has a 50 day moving average price of $293.40 and a 200-day moving average price of $293.17. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $339.17. The stock has a market capitalization of $159.64 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is currently 77.84%.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.69% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent research reports. Morgan Stanley boosted their price objective on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Royal Bank Of Canada decreased their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and issued a $328.00 price objective on shares of Amgen in a research report on Friday, June 27th. Finally, Citigroup upped their target price on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $303.76.

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.