Cigna Investments Inc. New Sells 121 Shares of Amgen Inc. $AMGN

Cigna Investments Inc. New lessened its position in Amgen Inc. (NASDAQ:AMGN) by 2.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 5,284 shares of the medical research company’s stock after selling 121 shares during the period. Cigna Investments Inc. New’s holdings in Amgen were worth $1,476,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Octavia Wealth Advisors LLC lifted its holdings in Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock valued at $759,000 after buying an additional 35 shares in the last quarter. Crumly & Associates Inc. raised its holdings in shares of Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after purchasing an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. raised its holdings in shares of Amgen by 5.2% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock valued at $204,000 after purchasing an additional 36 shares in the last quarter. Affinity Capital Advisors LLC raised its holdings in shares of Amgen by 4.5% in the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock valued at $246,000 after purchasing an additional 37 shares in the last quarter. Finally, Accredited Investors Inc. raised its holdings in shares of Amgen by 1.7% in the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock valued at $674,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction 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 directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.69% of the stock is owned by insiders.

Amgen Stock Up 0.3%

Shares of AMGN opened at $286.81 on Wednesday. The company’s 50-day simple moving average is $290.23 and its 200-day simple moving average is $290.00. The stock has a market capitalization of $154.41 billion, a PE ratio of 23.45, a P/E/G ratio of 2.48 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year 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 issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMGN. Bank of America lifted their price objective on shares of Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 23rd. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Citigroup upped their price objective on shares of Amgen from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Raymond James Financial started coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Finally, Morgan Stanley boosted their target price on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus target price of $304.43.

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.