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Candriam S.C.A. Sells 111,322 Shares of Amgen Inc. $AMGN

Amgen logo with Medical background

Key Points

  • Candriam S.C.A. reduced its holdings in Amgen Inc. by 18.0%, now owning 506,203 shares valued at approximately $157.71 million, making it the 19th largest holding in their portfolio.
  • Amgen reported $6.02 earnings per share for the last quarter, exceeding analysts' estimates, along with a revenue of $9.18 billion, up 9.4% year-over-year.
  • The company announced a quarterly dividend of $2.38 per share, representing a yield of 3.2% and a payout ratio of 77.84%.
  • Looking to export and analyze Amgen data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Candriam S.C.A. reduced its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 18.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 506,203 shares of the medical research company's stock after selling 111,322 shares during the period. Amgen comprises 1.0% of Candriam S.C.A.'s holdings, making the stock its 19th largest position. Candriam S.C.A. owned about 0.09% of Amgen worth $157,708,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. First Pacific Financial lifted its stake in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Pinney & Scofield Inc. acquired a new position in Amgen during the fourth quarter valued at approximately $26,000. Global Wealth Strategies & Associates raised its position in Amgen by 1,388.9% during the first quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock valued at $42,000 after purchasing an additional 125 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Amgen during the fourth quarter valued at approximately $36,000. Finally, South Plains Financial Inc. acquired a new position in Amgen during the fourth quarter valued at approximately $37,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMGN has been the subject of several research analyst reports. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley upped their price target on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Finally, Citigroup upped their price target on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $303.76.

Check Out Our Latest Report on AMGN

Amgen Stock Down 0.7%

Shares of AMGN stock traded down $2.04 on Friday, reaching $293.72. 1,643,970 shares of the company were exchanged, compared to its average volume of 2,104,120. The company 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 company has a 50-day moving average of $293.43 and a 200-day moving average of $293.17. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (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 analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

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

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.

About Amgen

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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