Corient IA LLC Takes Position in Amgen Inc. $AMGN

Key Points

• Corient IA LLC has acquired a new stake in Amgen Inc., purchasing 1,000 shares valued at approximately $312,000.
• Institutional investors collectively own 76.50% of Amgen's stock, with notable increases in holdings from firms like Raymond James Financial and DDFG Inc. during the first quarter.
• Amgen recently reported earnings per share of $6.02, exceeding analysts' expectations, alongside a quarterly dividend of $2.38 per share, equating to a 3.2% yield.

Corient IA LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,000 shares of the medical research company's stock, valued at approximately $312,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AMGN. Pinney & Scofield Inc. bought a new position in Amgen in the 4th quarter valued at about $26,000. First Pacific Financial raised its holdings 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 acquiring an additional 67 shares during the period. Heck Capital Advisors LLC bought a new position in Amgen in the 4th quarter valued at about $36,000. South Plains Financial Inc. bought a new position in Amgen in the 4th quarter valued at about $37,000. Finally, Global Wealth Strategies & Associates raised its holdings in Amgen by 1,388.9% in the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock valued at $42,000 after acquiring an additional 125 shares during the period. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research analyst reports. Guggenheim initiated coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target on the stock. Bank of America increased their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Mizuho increased their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Morgan Stanley increased their target price 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. Finally, Citigroup increased their target price on shares of 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 assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Amgen has a consensus rating of "Hold" and an average target price of $303.76.

Amgen Price Performance

Shares of NASDAQ AMGN traded down $2.04 during trading hours on Friday, hitting $293.72. 1,632,304 shares of the stock were exchanged, compared to its average volume of 2,838,013. 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 $158.13 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 2.55 and a beta of 0.49. The company's fifty day simple moving average is $293.46 and its two-hundred day simple moving average is $293.24. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17.

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

Amgen Announces Dividend

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

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is currently owned by insiders.

Amgen Company 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.