Amgen Inc. $AMGN Shares Bought by Aviance Capital Partners LLC

Key Points

• Aviance Capital Partners increased its Amgen stake by 10.7% in the fourth quarter, buying 3,566 more shares and bringing its total to 36,980 shares worth about $12.1 million.
• Amgen reported better-than-expected quarterly results, with EPS of $5.15 versus estimates of $4.77 and revenue of $8.62 billion, while also reaffirming strong future guidance.
• The company declared a quarterly dividend of $2.52 per share, implying an annualized yield of 3.1%, even as analysts currently hold a consensus rating of “Hold” on the stock.

Aviance Capital Partners LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,980 shares of the medical research company's stock after purchasing an additional 3,566 shares during the quarter. Amgen accounts for 1.4% of Aviance Capital Partners LLC's investment portfolio, making the stock its 11th biggest position. Aviance Capital Partners LLC's holdings in Amgen were worth $12,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Anfield Capital Management LLC lifted its stake in shares of Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after acquiring an additional 70 shares in the last quarter. Dogwood Wealth Management LLC lifted its stake in shares of Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after acquiring an additional 55 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Amgen in the fourth quarter worth about $26,000. Manning & Napier Advisors LLC lifted its stake in shares of Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock worth $32,000 after acquiring an additional 32 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new position in shares of Amgen in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Oppenheimer set a $400.00 price target on Amgen and gave the stock an "outperform" rating in a research note on Thursday, January 29th. Freedom Capital upgraded Amgen from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Truist Financial boosted their price target on Amgen from $325.00 to $327.00 and gave the stock a "hold" rating in a research note on Friday, May 1st. Finally, UBS Group boosted their price objective on Amgen from $390.00 to $400.00 and gave the company a "buy" rating in a report on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $356.15.

Amgen Stock Down 0.6%

NASDAQ:AMGN opened at $324.39 on Tuesday. The firm has a market capitalization of $175.07 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 3.28 and a beta of 0.44. The stock has a 50 day moving average of $348.31 and a 200-day moving average of $343.59. Amgen Inc. has a 52 week low of $267.83 and a 52 week high of $391.29. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Analysts predict that Amgen Inc. will post 22.37 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, May 15th. Amgen's dividend payout ratio is 70.15%.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the transaction, the senior vice president directly owned 7,009 shares of the company's stock, valued at $2,269,023.57. This represents a 15.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.85% of the stock is owned by company insiders.

Amgen Company Profile

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.

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