iA Global Asset Management Inc. Has $19.01 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Key Points

• iA Global Asset Management Inc. increased its stake in Amgen Inc. by 5.3%, owning 61,017 shares valued at $19 million following the acquisition of an additional 3,079 shares.
• Amgen announced a quarterly dividend of $2.38, resulting in an annualized dividend yield of 3.2%, with an ex-dividend date of August 22nd.
• Analysts have mixed views on Amgen, with price targets varying from $252 to $326, and an average rating of "Hold" reflecting cautious market sentiment.

iA Global Asset Management Inc. grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 61,017 shares of the medical research company's stock after purchasing an additional 3,079 shares during the quarter. iA Global Asset Management Inc.'s holdings in Amgen were worth $19,010,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital World Investors grew its holdings in shares of 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 during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 during the last quarter. Capital International Investors boosted its position in shares of 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 purchasing an additional 3,495,503 shares during the period. Northern Trust Corp increased its stake 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 purchasing an additional 875,254 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in 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 worth $1,274,553,000 after buying an additional 839,686 shares during the period. Institutional investors own 76.50% of the company's stock.

Amgen Stock Up 0.0%

NASDAQ AMGN traded up $0.03 during trading on Thursday, hitting $284.70. 2,588,846 shares of the company traded hands, compared to its average volume of 2,017,625. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. The business has a fifty day simple moving average of $293.20 and a 200 day simple moving average of $292.48. The company has a market capitalization of $153.09 billion, a P/E ratio of 23.28, a PEG ratio of 2.46 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.88 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $4.97 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently announced 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 is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMGN shares. Piper Sandler reissued an "overweight" rating and issued a $328.00 target price on shares of Amgen in a research report on Friday, June 27th. Royal Bank Of Canada cut their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target on the stock. Mizuho upped their price target on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, 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. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $307.23.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction 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. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.76% of the company's stock.

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.