Caisse de depot et placement du Quebec Decreases Stock Position in Amgen Inc. $AMGN

Key Points

• Caisse de dépôt et placement du Québec cut its Amgen position by 15.2% in the second quarter, selling 8,585 shares and retaining 47,809 shares valued at approximately $17.3 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen reported stronger-than-expected quarterly results, with EPS of $6.29 versus a $5.62 consensus estimate and revenue of $10.05 billion, up 9.5% year over year. The company also declared a quarterly dividend of $2.52, equal to a 2.3% annualized yield.
• Tezspire delivered positive Phase 3 results in eosinophilic esophagitis, potentially expanding the drug’s approved market, while Amgen’s stock traded near its 52-week high. Despite favorable earnings and pipeline developments, analysts maintained an overall “Hold” rating with an average price target of $380.43.

Caisse de depot et placement du Quebec trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,809 shares of the medical research company's stock after selling 8,585 shares during the period. Caisse de depot et placement du Quebec's holdings in Amgen were worth $17,313,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC increased its position in shares of Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after acquiring an additional 70 shares during the last quarter. Dogwood Wealth Management LLC boosted its holdings in Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after purchasing an additional 55 shares during the last quarter. Tower View Wealth Management LLC grew its stake in Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. Manning & Napier Advisors LLC increased its holdings in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock worth $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Evergreen Advisors LLC acquired a new position in shares of Amgen in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $432.42 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The company has a market capitalization of $233.78 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 3.16 and a beta of 0.41. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $447.03. The business has a 50 day simple moving average of $388.64 and a 200-day simple moving average of $364.71.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.62 by $0.67. The firm had revenue of $10.05 billion for the quarter, compared to analysts' expectations of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the business posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, equities research analysts expect that Amgen Inc. will post 22.92 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, August 21st. Amgen's dividend payout ratio (DPR) is presently 62.65%.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Tezspire expands its potential market. Amgen and AstraZeneca reported that Tezspire met both co-primary and all key secondary endpoints in the Phase 3 CROSSING study for eosinophilic esophagitis (EoE). Improvements in tissue inflammation and swallowing symptoms were statistically significant, clinically meaningful and sustained through 52 weeks. EoE could become Tezspire’s third approved indication, adding a potentially significant growth opportunity beyond asthma and chronic rhinosinusitis with nasal polyps. Tezspire Phase 3 EoE Results
• Positive Sentiment: Recent financial performance remains supportive. Amgen’s latest reported quarter exceeded analyst expectations for both earnings and revenue, with revenue increasing year over year. Strong results and full-year guidance have helped keep the stock near its 52-week high and provide a favorable backdrop for pipeline news. Amgen Earnings and Guidance
• Neutral Sentiment: Additional pipeline updates offer limited near-term valuation impact. Amgen provided updates on a pediatric psoriasis study involving apremilast and began a Phase 1 trial of AMG 691 aimed at markets in Asia. These programs may support long-term growth, but both remain too early to materially affect current earnings expectations. Amgen Pediatric Psoriasis Study
• Negative Sentiment: Amgen ended its Crohn’s disease research partnership with TScan Therapeutics. Terminating the collaboration removes an external source of potential inflammatory bowel disease assets and may raise questions about the company’s strategy in this research area. The impact is likely limited near term because the program was still focused on target discovery. Amgen Ends Crohn’s Research Partnership

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AMGN shares. Guggenheim raised their price target on shares of Amgen from $343.00 to $388.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Truist Financial increased their price objective on shares of Amgen from $340.00 to $362.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. UBS Group raised their price objective on shares of Amgen from $420.00 to $440.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. The Goldman Sachs Group set a $389.00 target price on shares of Amgen in a research report on Friday, June 5th. Finally, Oppenheimer upped their target price on shares of Amgen from $400.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $380.43.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the transaction, the senior vice president directly owned 6,404 shares of the company's stock, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares of the company's stock, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 6,222 shares of company stock worth $2,540,926. Insiders own 0.85% of the company's stock.

Amgen Company Profile

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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