Canada Pension Plan Investment Board Boosts Stock Position in Amgen Inc. $AMGN

Key Points

• Canada Pension Plan Investment Board increased its Amgen stake by 39.7% in the second quarter, acquiring 273,719 additional shares and bringing its holdings to 963,209 shares valued at approximately $348.8 million.
• Amgen reported stronger-than-expected quarterly results, with EPS of $6.29 versus the $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, equivalent to a 2.3% annual yield.
• Analyst sentiment remains mixed: although several firms raised their price targets and issued positive ratings, Amgen’s overall consensus rating is “Hold”, with an average price target of $380.43.

Canada Pension Plan Investment Board boosted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 39.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 963,209 shares of the medical research company's stock after acquiring an additional 273,719 shares during the quarter. Canada Pension Plan Investment Board owned 0.18% of Amgen worth $348,797,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dogwood Wealth Management LLC boosted its stake in shares of Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after acquiring an additional 55 shares during the last quarter. Anfield Capital Management LLC raised its stake in Amgen by 1,000.0% in the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after purchasing an additional 70 shares during the last quarter. Tower View Wealth Management LLC raised its stake in Amgen by 331.6% in 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 during the last quarter. Manning & Napier Advisors LLC lifted its holdings in Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Ares Financial Consulting LLC acquired a new stake in Amgen during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Price Performance

Shares of AMGN stock opened at $442.24 on Wednesday. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. The company has a market capitalization of $239.09 billion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 3.20 and a beta of 0.41. The firm's 50-day moving average is $382.78 and its two-hundred day moving average is $363.35. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $447.03.

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

Amgen Dividend Announcement

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

Analyst Ratings Changes

AMGN has been the subject of a number of recent research reports. Truist Financial increased their target price on shares of Amgen from $340.00 to $362.00 and gave the company a "hold" rating in a research report on Wednesday, August 5th. Erste Group Bank reaffirmed a "hold" rating on shares of Amgen in a research note on Tuesday, May 5th. Argus upped their price target on Amgen from $375.00 to $460.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. Piper Sandler increased their price target on Amgen from $427.00 to $457.00 and gave the company an "overweight" rating in a report on Thursday, August 20th. Finally, BMO Capital Markets lifted their price objective on Amgen from $400.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Amgen has an average rating of "Hold" and an average price target of $380.43.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,252 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the transaction, the senior vice president owned 6,404 shares of the company's stock, valued at $2,666,817.72. This represents a 16.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares of the company's stock, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by insiders.

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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