Cim Investment Management Inc. Has $1.31 Million Position in Amgen Inc. $AMGN

Cim Investment Management Inc. grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 99.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,864 shares of the medical research company’s stock after purchasing an additional 2,428 shares during the period. Cim Investment Management Inc.’s holdings in Amgen were worth $1,313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wealth Preservation Advisors LLC purchased a new stake in Amgen in the 1st quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 85 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the second quarter worth approximately $27,000. Activest Wealth Management boosted its holdings in shares of Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after purchasing an additional 103 shares during the period. Finally, Evelyn Partners Investment Management LLP purchased a new position in Amgen during the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In other news, 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 value of $299,253.60. Following the completion of the sale, the senior vice president directly owned 7,082 shares in the company, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 10,908 shares of company stock worth $3,674,966. 0.76% of the stock is owned by insiders.

Amgen Price Performance

NASDAQ AMGN opened at $317.74 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.38. The stock’s 50-day moving average is $316.12 and its two-hundred day moving average is $298.78. The firm has a market cap of $171.10 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 2.87 and a beta of 0.45. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. During the same quarter in the prior year, the firm posted $5.58 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be given a $2.52 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s payout ratio is 73.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Erste Group Bank upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Wall Street Zen lowered Amgen from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 7th. Wells Fargo & Company lifted their price objective on Amgen from $300.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday. Morgan Stanley dropped their target price on Amgen from $329.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Citigroup raised 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. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $332.85.

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.