ST Germain D J Co. Inc. Purchases 3,106 Shares of Amgen Inc. $AMGN

Key Points

• ST Germain D J Co. Inc. increased its holdings in Amgen Inc. by 3.8%, acquiring an additional 3,106 shares, bringing its total to 85,621 shares valued at approximately $23.9 million.
• A recent insider transaction saw Amgen's SVP Nancy A. Grygiel sell 1,267 shares at an average price of $296.99, reducing her position by nearly 15%.
• Amgen has reported strong financial results, with a net revenue of $9.18 billion in the last quarter, exceeding expectations, and a forecasted earnings per share of 20.62 for the current year.

ST Germain D J Co. Inc. raised its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 85,621 shares of the medical research company's stock after acquiring an additional 3,106 shares during the quarter. ST Germain D J Co. Inc.'s holdings in Amgen were worth $23,906,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AMGN. 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. Nuveen LLC purchased a new position in shares of Amgen during the first quarter valued at approximately $688,868,000. Federated Hermes Inc. lifted its holdings in shares of Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company's stock valued at $634,680,000 after purchasing an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Amgen by 128.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company's stock valued at $332,017,000 after purchasing an additional 600,096 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Amgen during the second quarter valued at approximately $156,812,000. 76.50% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.76% of the stock is currently owned by insiders.

Amgen Trading Down 2.9%

NASDAQ:AMGN opened at $271.18 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The company has a market cap of $145.99 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.43 and a beta of 0.49. The company has a 50 day simple moving average of $289.29 and a two-hundred day simple moving average of $289.53.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results 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 business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the previous year, the firm posted $4.97 EPS. The firm's revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.5%. Amgen's payout ratio is presently 77.84%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a report on Wednesday. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Piper Sandler boosted their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Finally, Bank of America boosted their price objective on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $309.15.

About Amgen

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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