CX Institutional Increases Stake in Amgen Inc. $AMGN

CX Institutional increased its stake in Amgen Inc. (NASDAQ:AMGN) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,960 shares of the medical research company’s stock after buying an additional 3,590 shares during the period. CX Institutional’s holdings in Amgen were worth $11,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Quarterback LLC raised its position in shares of Amgen by 1.6% in the 3rd quarter. Wealth Quarterback LLC now owns 2,210 shares of the medical research company’s stock worth $624,000 after acquiring an additional 34 shares in the last quarter. Fairvoy Private Wealth LLC boosted its position in shares of Amgen by 1.1% during the second quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after purchasing an additional 35 shares in the last quarter. Nicholson Wealth Management Group LLC grew its stake in Amgen by 0.6% in the second quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock worth $1,652,000 after purchasing an additional 35 shares during the period. LS Investment Advisors LLC raised its holdings in Amgen by 4.1% in the third quarter. LS Investment Advisors LLC now owns 885 shares of the medical research company’s stock worth $250,000 after purchasing an additional 35 shares in the last quarter. Finally, Crown Wealth Group LLC lifted its position in Amgen by 4.0% during the third quarter. Crown Wealth Group LLC now owns 910 shares of the medical research company’s stock valued at $257,000 after buying an additional 35 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the sale, the senior vice president owned 7,225 shares in the company, valued at approximately $2,436,703.50. This trade represents a 30.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Rachna Khosla sold 890 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the sale, the senior vice president owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 10,908 shares of company stock worth $3,674,966 over the last three months. 0.69% of the stock is currently owned by company insiders.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $330.17 on Wednesday. The firm has a market cap of $177.79 billion, a P/E ratio of 25.52, a PEG ratio of 2.92 and a beta of 0.45. Amgen Inc. has a twelve month low of $259.35 and a twelve month high of $346.38. 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 50 day moving average of $327.43 and a 200 day moving average of $303.48.

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

Amgen Increases Dividend

The business 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 represents a $10.08 annualized dividend and a yield of 3.1%. This is an increase from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio (DPR) is currently 73.57%.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of recent research reports. Cantor Fitzgerald upped their target price on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amgen in a research note on Monday, December 29th. Wells Fargo & Company lifted their target price on shares of Amgen from $300.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. BMO Capital Markets upped their price target on Amgen from $335.00 to $372.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Finally, Morgan Stanley reduced their price objective on Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $338.50.

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.