Carnegie Investment Counsel Has $30.27 Million Holdings in Amgen Inc. $AMGN

Carnegie Investment Counsel lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 5.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 107,260 shares of the medical research company’s stock after purchasing an additional 5,334 shares during the period. Carnegie Investment Counsel’s holdings in Amgen were worth $30,269,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new position in Amgen in the 1st quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its position in 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 acquiring an additional 85 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the second quarter valued at $27,000. Activest Wealth Management raised its stake 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 valued at $33,000 after acquiring an additional 103 shares during the last quarter. Finally, Evelyn Partners Investment Management LLP bought a new stake in shares of Amgen in the second quarter worth $32,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Down 0.3%

Shares of AMGN stock opened at $332.93 on Friday. The company has a market cap of $179.28 billion, a P/E ratio of 25.73, a PEG ratio of 3.10 and a beta of 0.45. The stock has a 50 day simple moving average of $322.98 and a two-hundred day simple moving average of $301.63. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. Amgen Inc. has a fifty-two week low of $257.05 and a fifty-two week high of $346.38.

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

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be paid a dividend of $2.52 per share. This is a boost from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s payout ratio is currently 73.57%.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 890 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the transaction, the senior vice president owned 7,082 shares of the company’s stock, valued at $2,381,251.68. This represents a 11.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the sale, the executive vice president owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 10,908 shares of company stock worth $3,674,966. 0.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AMGN has been the subject of several analyst reports. Guggenheim raised their target price on Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “buy (b)” rating on shares of Amgen in a research report on Monday. Daiwa Capital Markets lifted their price objective on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. DZ Bank increased their target price on shares of Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. Finally, BMO Capital Markets raised their price target on shares of Amgen from $335.00 to $372.00 and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $332.85.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.