Corundum Group Inc. Grows Holdings in Amgen Inc. $AMGN

Corundum Group Inc. boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 80.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,518 shares of the medical research company’s stock after purchasing an additional 1,570 shares during the quarter. Corundum Group Inc.’s holdings in Amgen were worth $982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new position in Amgen during the 1st quarter worth $25,000. First Pacific Financial raised its position in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after buying an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its position in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after buying an additional 85 shares during the last quarter. Activest Wealth Management raised its position in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after buying an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. raised its position in Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock worth $38,000 after buying an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.76% of the company’s stock.

Amgen Price Performance

NASDAQ:AMGN opened at $297.89 on Friday. The firm has a market cap of $160.37 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 2.58 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company’s 50-day moving average is $287.34 and its two-hundred day moving average is $288.36. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Analysts Set New Price Targets

A number of equities analysts have commented on AMGN shares. Citigroup upped their price objective on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Amgen in a research report on Saturday, September 27th. Morgan Stanley upped their price target on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Piper Sandler upped their price target 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. Seven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus target price of $309.70.

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.