Carnegie Investment Counsel Has $30.27 Million Stake in Amgen Inc. $AMGN

Carnegie Investment Counsel boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,260 shares of the medical research company’s stock after acquiring an additional 5,334 shares during the quarter. Carnegie Investment Counsel’s holdings in Amgen were worth $30,269,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. OLD National Bancorp IN grew its holdings in shares of Amgen by 296.2% in the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after acquiring an additional 13,460 shares in the last quarter. Atlantic Union Bankshares Corp boosted its position in Amgen by 165.0% during the second quarter. Atlantic Union Bankshares Corp now owns 10,643 shares of the medical research company’s stock valued at $2,972,000 after purchasing an additional 6,627 shares during the last quarter. L2 Asset Management LLC grew its stake in Amgen by 50.8% in the second quarter. L2 Asset Management LLC now owns 9,837 shares of the medical research company’s stock valued at $2,747,000 after purchasing an additional 3,314 shares in the last quarter. Stephens Inc. AR grew its stake in Amgen by 14.2% in the second quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after purchasing an additional 11,888 shares in the last quarter. Finally, CWM LLC increased its position in shares of Amgen by 2.9% during the 2nd quarter. CWM LLC now owns 154,418 shares of the medical research company’s stock worth $43,115,000 after purchasing an additional 4,306 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMGN. Cantor Fitzgerald increased their price objective on Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Daiwa Capital Markets increased their price target on shares of Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Bank of America boosted their price objective on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Guggenheim lifted their price target on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. 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 issued a Sell rating to the stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $332.85.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the sale, the senior vice president directly owned 7,225 shares of the company’s stock, valued at $2,436,703.50. This trade represents a 30.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 completion of the transaction, the senior vice president owned 7,082 shares in the company, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 10,908 shares of company stock valued at $3,674,966. 0.76% of the stock is currently owned by corporate insiders.

Amgen Stock Down 0.3%

AMGN stock opened at $332.93 on Friday. Amgen Inc. has a 52 week low of $257.05 and a 52 week high of $346.38. The business has a 50-day simple moving average of $322.98 and a 200 day simple moving average of $301.63. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45. The company has a market cap of $179.28 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 3.10 and a beta of 0.45.

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

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be paid a dividend of $2.52 per share. The ex-dividend date is Friday, February 13th. This is a boost from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a yield of 3.0%. Amgen’s dividend payout ratio is currently 73.57%.

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.