Amgen Inc. $AMGN Shares Purchased by MassMutual Private Wealth & Trust FSB

Key Points

• MassMutual Private Wealth & Trust FSB more than doubled its Amgen position in the third quarter, increasing holdings by 105.8% to 13,514 shares valued at approximately $5.7 million. Institutional investors and hedge funds collectively own 76.5% of the stock.
• Analysts maintain a consensus “Hold” rating on Amgen, with an average price target of $385.25. Recent opinions included upgraded targets from Barclays and Piper Sandler, while HSBC downgraded the stock to “Hold.”
• Amgen reported quarterly EPS of $6.29 and revenue of $10.05 billion, exceeding analyst expectations, while revenue rose 9.5% year over year. The company also declared a quarterly dividend of $2.52 per share, representing a 2.5% annualized yield.

MassMutual Private Wealth & Trust FSB raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 105.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,514 shares of the medical research company's stock after purchasing an additional 6,947 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Amgen were worth $5,696,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Wellington Altus USA Inc. grew its position in Amgen by 72.3% in the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company's stock valued at $28,000 after acquiring an additional 34 shares in the last quarter. Tower View Wealth Management LLC lifted its position in shares of Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Security National Bank of Sioux City Iowa IA purchased a new position in shares of Amgen in the second quarter valued at approximately $36,000. Evergreen Advisors LLC purchased a new position in shares of Amgen in the first quarter valued at approximately $37,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Amgen in the fourth quarter valued at approximately $44,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of Amgen from $360.00 to $380.00 and gave the stock an "equal weight" rating in a research note on Friday, August 14th. Cantor Fitzgerald reissued a "neutral" rating on shares of Amgen in a research report on Monday. Oppenheimer restated an "outperform" rating on shares of Amgen in a research note on Wednesday, September 23rd. Piper Sandler upped their price objective on Amgen from $427.00 to $457.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. Finally, HSBC cut Amgen from a "buy" rating to a "hold" rating and reduced their price objective for the company from $445.00 to $425.00 in a research note on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $385.25.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,252 shares of the firm's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the sale, the senior vice president owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. This trade represents a 16.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the sale, 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,222 shares of company stock valued at $2,540,926 over the last ninety days. 0.85% of the stock is owned by company insiders.

Amgen Trading Down 0.0%

NASDAQ AMGN opened at $402.98 on Tuesday. Amgen Inc. has a 52 week low of $288.00 and a 52 week high of $447.03. The firm has a 50 day moving average of $411.25 and a two-hundred day moving average of $370.65. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The stock has a market capitalization of $217.86 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41.

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

Amgen Dividend Announcement

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

About Amgen

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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