Industrial Alliance Investment Management Inc. boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Get Rating) by 3.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,531 shares of the medical research company’s stock after purchasing an additional 1,193 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Amgen were worth $7,783,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of AMGN. EdgeRock Capital LLC acquired a new stake in Amgen in the third quarter valued at about $25,000. Leelyn Smith LLC boosted its stake in shares of Amgen by 80.3% in the 3rd quarter. Leelyn Smith LLC now owns 110 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 49 shares in the last quarter. Capital Wealth Alliance LLC bought a new stake in shares of Amgen during the 2nd quarter valued at approximately $26,000. Coston McIsaac & Partners acquired a new position in Amgen during the 2nd quarter worth approximately $27,000. Finally, Heritage Wealth Management LLC bought a new position in Amgen in the 2nd quarter valued at approximately $28,000. Institutional investors and hedge funds own 75.53% of the company’s stock.
Analyst Ratings Changes
AMGN has been the topic of a number of research reports. Cowen decreased their target price on shares of Amgen from $307.00 to $289.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 1st. Piper Sandler lowered their price objective on Amgen from $299.00 to $293.00 and set an “overweight” rating for the company in a research note on Thursday, January 19th. Royal Bank of Canada cut their target price on shares of Amgen from $268.00 to $258.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 1st. StockNews.com began coverage on shares of Amgen in a research report on Thursday. They issued a “strong-buy” rating for the company. Finally, SVB Leerink cut their price target on shares of Amgen from $282.00 to $267.00 and set a “market perform” rating on the stock in a report on Thursday, February 2nd. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $251.44.
Amgen Price Performance
Amgen (NASDAQ:AMGN – Get Rating) last released its earnings results on Tuesday, February 7th. The medical research company reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.04 by $0.05. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.77 billion. Amgen had a net margin of 24.89% and a return on equity of 359.47%. Amgen’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.36 EPS. On average, equities analysts anticipate that Amgen Inc. will post 17.72 EPS for the current year.
Amgen Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Thursday, May 18th will be given a $2.13 dividend. This represents a $8.52 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Wednesday, May 17th. Amgen’s payout ratio is 70.36%.
Amgen Profile
Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture, and marketing of human therapeutics. It operates through Human Therapeutics segment. The company was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann, and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.
Further Reading
- Get a free copy of the StockNews.com research report on Amgen (AMGN)
- Meta Platforms: Efficiency Gains Momentum, Stock Accelerates
- Pfizer’s Latest Acquisition Strengthens the Case for PFE Stock
- SentinelOne: Reversal In-Play For Cybersecurity Stocks
- Is Sportradar Group A Growth Stock To Bet On In 2023?
- Strong Guidance says Boeing is Ready for Takeoff
Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN – Get Rating).
Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.
