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Hudson Canyon Capital Management Invests $1.62 Million in Amgen Inc. (NASDAQ:AMGN)

Amgen logo with Medical background

Key Points

  • Hudson Canyon Capital Management invested $1.62 million in Amgen Inc., acquiring 5,200 shares during the first quarter.
  • Amgen reported a quarterly EPS of $6.02, surpassing estimates, with revenues of $9.18 billion, marking a 9.4% increase year-over-year.
  • The company declared a quarterly dividend of $2.38, translating to an annualized yield of 3.3% and a payout ratio of 77.84%.
  • Want stock alerts on Amgen? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Hudson Canyon Capital Management purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,200 shares of the medical research company's stock, valued at approximately $1,620,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors lifted its stake in Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after acquiring an additional 6,029,058 shares in the last quarter. GAMMA Investing LLC grew its position in Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after purchasing an additional 3,653,205 shares in the last quarter. Capital International Investors increased its stake in Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after buying an additional 3,495,503 shares during the period. Northern Trust Corp lifted its position in Amgen by 15.8% in the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock worth $1,676,183,000 after buying an additional 875,254 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Amgen by 20.7% during the 4th quarter. Capital Research Global Investors now owns 4,890,092 shares of the medical research company's stock valued at $1,274,553,000 after buying an additional 839,686 shares during the period. Institutional investors own 76.50% of the company's stock.

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 transaction, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.76% of the stock is currently owned by insiders.

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $3.53 on Friday, hitting $288.23. The stock had a trading volume of 1,802,960 shares, compared to its average volume of 2,050,777. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.88 and a current ratio of 1.31. The firm's 50 day moving average price is $293.23 and its 200-day moving average price is $292.71. The company has a market capitalization of $155.17 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 2.47 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued 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. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the firm earned $4.97 EPS. The company's revenue was up 9.4% on a year-over-year basis. On average, equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Analyst Ratings Changes

AMGN has been the topic of a number of research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $328.00 price target on shares of Amgen in a research note on Friday, June 27th. Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Royal Bank Of Canada dropped their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Citigroup increased their price target on Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $303.76.

View Our Latest Report on AMGN

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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