Bank of Montreal Can Cuts Stake in Amgen Inc. $AMGN

Bank of Montreal Can lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 14.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,009,513 shares of the medical research company’s stock after selling 168,300 shares during the period. Bank of Montreal Can owned about 0.19% of Amgen worth $281,866,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AMGN. Nuveen LLC purchased a new stake in shares of Amgen during the 1st quarter worth approximately $688,868,000. Federated Hermes Inc. grew its holdings in 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 period. The Manufacturers Life Insurance Company grew its holdings in 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 period. WoodTrust Financial Corp increased its position in Amgen by 8,223.6% in the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock worth $166,307,000 after buying an additional 588,478 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of Amgen in the second quarter valued at $156,812,000. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is currently owned by insiders.

Amgen Trading Up 2.2%

Shares of Amgen stock opened at $298.43 on Monday. The company’s 50-day moving average price is $287.75 and its 200-day moving average price is $287.49. The company has a market cap of $160.66 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 2.61 and a beta of 0.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. 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 (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share 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 for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the firm posted $4.97 EPS. Amgen’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. On average, equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup increased their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Wall Street Zen downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Piper Sandler lifted their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. UBS Group lowered their price target on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Finally, Raymond James Financial began coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Amgen has a consensus rating of “Hold” and an average target price of $300.94.

Amgen 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.