Canada Post Corp Registered Pension Plan Invests $2.52 Million in Amgen Inc. $AMGN

Key Points

• The Canada Post Corp Registered Pension Plan acquired 8,094 shares of Amgen Inc. for approximately $2.5 million, making it the 16th largest holding in their portfolio.
• Amgen reported quarterly earnings of $6.02 earnings per share, exceeding analysts' expectations and showing a revenue increase of 9.4% compared to the same period last year.
• The company also declared a quarterly dividend of $2.38 per share, resulting in an annualized dividend yield of 3.4%.

Canada Post Corp Registered Pension Plan acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,094 shares of the medical research company's stock, valued at approximately $2,522,000. Amgen makes up about 1.1% of Canada Post Corp Registered Pension Plan's investment portfolio, making the stock its 16th biggest holding.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 worth $16,471,790,000 after purchasing an additional 148,658 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 worth $1,336,647,000 after purchasing an additional 685,785 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Amgen by 6.0% during the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company's stock worth $1,521,339,000 after purchasing an additional 274,488 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 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 worth $1,387,695,000 after purchasing an additional 243,306 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of 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 worth $1,140,768,000 after purchasing an additional 3,653,205 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent research reports. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. UBS Group decreased their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Bank of America boosted their price target on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $304.43.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business'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 owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Amgen Price Performance

Amgen stock traded down $6.34 on Friday, reaching $276.39. The company's stock had a trading volume of 2,143,109 shares, compared to its average volume of 1,855,134. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The company has a market cap of $148.80 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.46 and a beta of 0.49. The business's fifty day moving average price is $292.54 and its 200 day moving average price is $291.76. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17.

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

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. Amgen's payout ratio is currently 77.84%.

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.