Amgen Inc. $AMGN Stake Reduced by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,202 shares of the medical research company’s stock after selling 40 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Amgen were worth $4,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Fairvoy Private Wealth LLC increased its stake in Amgen by 1.1% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock worth $885,000 after purchasing an additional 35 shares in the last quarter. Nicholson Wealth Management Group LLC increased its stake in Amgen by 0.6% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock worth $1,652,000 after purchasing an additional 35 shares in the last quarter. Crumly & Associates Inc. increased its stake in Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock worth $320,000 after purchasing an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. increased its stake in Amgen by 5.2% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock worth $204,000 after purchasing an additional 36 shares in the last quarter. Finally, Lion Street Advisors LLC increased its stake in Amgen by 1.3% in the 2nd quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock worth $774,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

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

Amgen Trading Down 0.4%

Shares of NASDAQ AMGN opened at $291.76 on Friday. The stock has a market cap of $157.07 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.52 and a beta of 0.49. The business has a 50 day simple moving average of $287.92 and a 200 day simple moving average of $287.36. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

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

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen’s payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AMGN shares. Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating on the stock. UBS Group lowered their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley lifted their target price on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Finally, Citigroup lifted their target price on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $300.94.

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.