Amundi Raises Stake in Amgen Inc. $AMGN

Amundi boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 19.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,303,169 shares of the medical research company’s stock after purchasing an additional 376,228 shares during the quarter. Amundi owned about 0.43% of Amgen worth $683,696,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Epoch Investment Partners Inc. grew its stake in shares of Amgen by 7.3% in the 2nd quarter. Epoch Investment Partners Inc. now owns 43,609 shares of the medical research company’s stock worth $12,176,000 after buying an additional 2,985 shares during the last quarter. Dodge & Cox boosted its holdings in Amgen by 1.1% in the second quarter. Dodge & Cox now owns 13,682 shares of the medical research company’s stock worth $3,820,000 after acquiring an additional 150 shares in the last quarter. Beutel Goodman & Co Ltd. grew its stake in shares of Amgen by 2.7% in the second quarter. Beutel Goodman & Co Ltd. now owns 1,436,622 shares of the medical research company’s stock worth $401,119,000 after acquiring an additional 37,343 shares during the last quarter. Royal Fund Management LLC grew its stake in shares of Amgen by 12.1% in the second quarter. Royal Fund Management LLC now owns 22,184 shares of the medical research company’s stock worth $6,201,000 after acquiring an additional 2,388 shares during the last quarter. Finally, Great Diamond Partners LLC raised its position in shares of Amgen by 0.4% in the 2nd quarter. Great Diamond Partners LLC now owns 10,573 shares of the medical research company’s stock worth $2,952,000 after purchasing an additional 45 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on AMGN shares. Cantor Fitzgerald increased their price objective on shares of Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. Guggenheim boosted their price objective on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Wells Fargo & Company set a $400.00 target price on Amgen in a research note on Tuesday, November 25th. Finally, Raymond James Financial initiated coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $335.65.

Insiders Place Their Bets

In other news, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the transaction, the executive vice president owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the transaction, the senior vice president directly owned 7,082 shares in the company, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,908 shares of company stock worth $3,674,966 over the last quarter. 0.76% of the stock is currently owned by corporate insiders.

Amgen Stock Performance

AMGN opened at $340.16 on Friday. The company’s 50 day moving average is $312.27 and its 200 day moving average is $296.72. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45. The company has a market cap of $183.17 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 3.12 and a beta of 0.45. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.38.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, topping the consensus estimate of $5.01 by $0.63. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the firm earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s payout ratio is currently 73.57%.

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.