Amgen Inc. $AMGN Stake Lifted by Stokes Capital Advisors LLC

Key Points

• Stokes Capital Advisors increased its Amgen stake by 187.8% in the third quarter, acquiring 5,750 additional shares for a total of 8,811 shares valued at approximately $3.7 million. Institutional investors collectively own 76.5% of Amgen.
• Analysts maintain a mixed outlook, with Amgen receiving an average “Hold” rating and a consensus price target of $389.71, below the reported share price of $414.87. Several firms nevertheless raised their targets, including Scotiabank to $500 and Argus to $460.
• Amgen reported quarterly earnings of $6.29 per share, beating estimates of $5.62, while revenue rose 9.5% year over year to $10.05 billion. The company also paid a quarterly dividend of $2.52 per share, equal to a 2.4% annualized yield.

Stokes Capital Advisors LLC raised its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 187.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,811 shares of the medical research company's stock after acquiring an additional 5,750 shares during the quarter. Stokes Capital Advisors LLC's holdings in Amgen were worth $3,714,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. increased its holdings in shares of Amgen by 4.8% during the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company's stock valued at $17,874,974,000 after purchasing an additional 2,261,544 shares in the last quarter. State Street Corp boosted its holdings in Amgen by 38.2% during the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company's stock worth $15,283,363,000 after buying an additional 11,656,755 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Amgen by 12.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company's stock valued at $1,952,156,000 after buying an additional 605,928 shares during the period. Bank of America Corp DE purchased a new position in Amgen in the second quarter valued at $1,831,903,000. Finally, Invesco Ltd. increased its holdings in Amgen by 7.2% in the fourth quarter. Invesco Ltd. now owns 4,788,460 shares of the medical research company's stock valued at $1,567,311,000 after buying an additional 321,173 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AMGN shares. Argus increased their target price on shares of Amgen from $375.00 to $460.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. Wells Fargo & Company upped their price target on Amgen from $400.00 to $435.00 and gave the stock an "equal weight" rating in a report on Friday, September 4th. Oppenheimer reiterated an "outperform" rating on shares of Amgen in a research report on Wednesday, September 23rd. Scotiabank raised their price objective on Amgen from $450.00 to $500.00 and gave the company an "outperform" rating in a report on Monday, September 28th. Finally, Canaccord Genuity Group boosted their price objective on Amgen from $366.00 to $384.00 and gave the company a "hold" rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Amgen has an average rating of "Hold" and an average target price of $389.71.

Amgen Stock Up 1.8%

AMGN stock opened at $414.87 on Friday. The stock has a market capitalization of $224.29 billion, a P/E ratio of 25.78, a P/E/G ratio of 2.94 and a beta of 0.41. The firm has a 50-day simple moving average of $412.94 and a 200-day simple moving average of $372.18. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. Amgen Inc. has a 52 week low of $288.00 and a 52 week high of $447.03.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.62 by $0.67. The firm had revenue of $10.05 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities analysts forecast that Amgen Inc. will post 22.94 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were given a $2.52 dividend. This represents a $10.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, August 21st. Amgen's dividend payout ratio (DPR) is 62.65%.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the transaction, the senior vice president directly owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. This represents a 16.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares of the company's stock, valued at $2,951,854.40. The trade was a 28.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,222 shares of company stock worth $2,540,926 over the last ninety days. Corporate insiders own 0.85% of the company's stock.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: UBS upgraded Amgen to Buy and raised its price target to $470 from $430, implying further upside from the reported $414.87 share price. The upgrade is the clearest near-term catalyst behind the stock’s strength. Benzinga analyst upgrade report
• Positive Sentiment: Amgen announced a head-to-head Phase 3 trial for its monthly diabetes drug candidate against semaglutide. Success could strengthen the company’s position in the highly competitive GLP-1 market and provide a significant future growth opportunity, although clinical and commercial risks remain. Amgen monthly diabetes trial article
• Positive Sentiment: Cantor Fitzgerald raised its Amgen price target to $440 from $400, signaling improved expectations despite maintaining a Hold rating. Cantor Fitzgerald price target report

Amgen 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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