Amgen Inc. $AMGN Shares Purchased by Ferguson Wellman Capital Management Inc.

Key Points

• Ferguson Wellman Capital Management increased its Amgen stake by 4.8% in the third quarter, adding 11,950 shares to own 259,022 shares valued at approximately $103.6 million. Institutional investors and hedge funds collectively own 76.5% of Amgen.
• Amgen insiders sold 6,222 shares worth about $2.54 million over the past 90 days, while company insiders own 0.85% of the stock.
• Analysts maintain a consensus “Hold” rating with an average price target of $385.25. Amgen recently exceeded quarterly earnings and revenue estimates and pays an annualized dividend of $10.08 per share, yielding about 2.5%.

Ferguson Wellman Capital Management Inc. boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 259,022 shares of the medical research company's stock after acquiring an additional 11,950 shares during the quarter. Amgen comprises about 1.2% of Ferguson Wellman Capital Management Inc.'s investment portfolio, making the stock its 20th biggest holding. Ferguson Wellman Capital Management Inc.'s holdings in Amgen were worth $103,614,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Rational Advisors Inc. grew its position in Amgen by 13.7% during the 2nd quarter. Rational Advisors Inc. now owns 199 shares of the medical research company's stock worth $72,000 after purchasing an additional 24 shares in the last quarter. Beacon Financial Advisory LLC raised its position in Amgen by 2.0% during the second quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company's stock valued at $461,000 after buying an additional 25 shares during the period. Legacy Financial Advisors Inc. lifted its stake in Amgen by 0.8% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company's stock worth $1,234,000 after acquiring an additional 26 shares in the last quarter. Roman Butler Fullerton & Co. grew its stake in Amgen by 1.4% during the 2nd quarter. Roman Butler Fullerton & Co. now owns 1,956 shares of the medical research company's stock valued at $705,000 after acquiring an additional 27 shares in the last quarter. Finally, Round Rock Advisors LLC lifted its position in shares of Amgen by 2.9% in the second quarter. Round Rock Advisors LLC now owns 1,003 shares of the medical research company's stock worth $363,000 after purchasing an additional 28 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the transaction, the senior vice president directly owned 6,404 shares of the company's stock, valued at $2,642,098.28. The trade was a 23.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Nancy Grygiel sold 2,970 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares of the company's stock, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 6,222 shares of company stock worth $2,540,926. Company insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMGN shares. UBS Group reaffirmed a "buy" rating and set a $430.00 price target on shares of Amgen in a research note on Thursday, September 17th. Scotiabank boosted their target price on shares of Amgen from $450.00 to $500.00 and gave the stock an "outperform" rating in a research report on Monday, September 28th. Wells Fargo & Company raised their price target on shares of Amgen from $400.00 to $435.00 and gave the company an "equal weight" rating in a report on Friday, September 4th. Canaccord Genuity Group upped their price objective on shares of Amgen from $366.00 to $384.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Finally, Bank of America raised their target price on Amgen from $312.00 to $317.00 and gave the company an "underperform" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Amgen currently has a consensus rating of "Hold" and a consensus target price of $385.25.

Amgen Stock Performance

NASDAQ:AMGN traded up $0.36 during midday trading on Monday, reaching $403.40. The stock had a trading volume of 927,812 shares, compared to its average volume of 2,753,245. Amgen Inc. has a 1-year low of $288.00 and a 1-year high of $447.03. The firm's fifty day simple moving average is $410.72 and its 200-day simple moving average is $370.36. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. The stock has a market capitalization of $218.09 billion, a P/E ratio of 25.07, a PEG ratio of 2.91 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping analysts' consensus estimates of $5.62 by $0.67. The firm had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business's revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities research analysts forecast that Amgen Inc. will post 22.94 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were issued a $2.52 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.5%. Amgen's dividend payout ratio (DPR) is 62.65%.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen's portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.

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