iA Global Asset Management Inc. Raises Position in Amgen Inc. $AMGN

Key Points

• iA Global Asset Management increased its Amgen stake by 7.4% in the fourth quarter, buying 4,604 shares and bringing its total holdings to 66,947 shares valued at about $21.9 million.
• Amgen beat quarterly expectations, reporting earnings of $5.15 per share versus $4.77 expected, on revenue of $8.62 billion that topped estimates and rose 5.8% year over year.
• The company also announced a quarterly dividend of $2.52 per share, equal to $10.08 annually and a yield of about 3.1%, while Wall Street currently has a consensus rating of Hold with a $356.15 target price.

iA Global Asset Management Inc. raised its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,947 shares of the medical research company's stock after buying an additional 4,604 shares during the period. iA Global Asset Management Inc.'s holdings in Amgen were worth $21,912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Amgen by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock worth $331,000 after purchasing an additional 114 shares during the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Amgen by 29.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock worth $7,220,000 after purchasing an additional 5,853 shares during the last quarter. Main Street Financial Solutions LLC lifted its position in shares of Amgen by 11.3% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock worth $1,141,000 after purchasing an additional 416 shares during the last quarter. Finally, Ieq Capital LLC lifted its position in shares of Amgen by 5.1% during the 2nd quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock worth $15,120,000 after purchasing an additional 2,611 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.85% of the company's stock.

Amgen Price Performance

Shares of AMGN opened at $326.31 on Friday. Amgen Inc. has a 1-year low of $267.73 and a 1-year high of $391.29. The stock has a market cap of $176.10 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 3.28 and a beta of 0.44. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The firm has a fifty day moving average price of $349.17 and a 200 day moving average price of $342.99.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.58 billion. During the same period in the previous year, the company earned $4.90 earnings per share. Amgen's quarterly revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, sell-side analysts anticipate that Amgen Inc. will post 22.37 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, May 15th. Amgen's dividend payout ratio is presently 70.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays initiated coverage on shares of Amgen in a research report on Friday, February 20th. They set an "equal weight" rating and a $350.00 price objective for the company. Citigroup boosted their price target on shares of Amgen from $315.00 to $345.00 and gave the company a "neutral" rating in a research report on Wednesday, February 4th. UBS Group boosted their price target on shares of Amgen from $390.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, April 13th. Guggenheim reduced their price target on shares of Amgen from $351.00 to $340.00 and set a "neutral" rating for the company in a research report on Monday, May 4th. Finally, The Goldman Sachs Group boosted their price target on shares of Amgen from $415.00 to $425.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $356.15.

About Amgen

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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