Cohen Investment Advisors LLC Raises Holdings in Amgen Inc. $AMGN

Cohen Investment Advisors LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,380 shares of the medical research company’s stock after acquiring an additional 513 shares during the quarter. Amgen makes up 1.7% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its 28th largest position. Cohen Investment Advisors LLC’s holdings in Amgen were worth $3,177,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. Nuveen LLC bought a new position in shares of Amgen during the 1st quarter worth $688,868,000. Federated Hermes Inc. grew its stake in shares of Amgen by 48.5% during the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock worth $634,680,000 after acquiring an additional 665,555 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Amgen by 128.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after acquiring an additional 600,096 shares during the period. WoodTrust Financial Corp grew its stake in shares of Amgen by 8,223.6% during the 2nd quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock worth $166,307,000 after acquiring an additional 588,478 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Amgen during the 2nd quarter worth $156,812,000. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $294.62 on Thursday. The firm has a market capitalization of $158.61 billion, a P/E ratio of 24.09, a P/E/G ratio of 2.57 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The stock’s 50-day simple moving average is $286.90 and its two-hundred day simple moving average is $287.93. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88.

Amgen (NASDAQ:AMGN) last announced 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. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen’s dividend payout ratio is 77.84%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Citigroup increased their price objective on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Raymond James Financial assumed coverage on Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, Piper Sandler increased their price objective on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $309.42.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.76% of the company’s stock.

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.