ASK Capital Investment Managers LLC Purchases 7,058 Shares of Amgen Inc. $AMGN

Key Points

• ASK Capital Investment Managers initiated a position in Amgen, purchasing 7,058 shares valued at approximately $2.98 million. The stock now represents 3.3% of the fund’s holdings, while institutional investors collectively own 76.5% of AMGN.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $387.93. HSBC and Morgan Stanley recently lowered their ratings or price targets, while Weiss Ratings upgraded the stock.
• Amgen reported quarterly revenue of $10.05 billion and EPS of $6.29, exceeding analyst expectations, and declared a quarterly dividend of $2.52, equating to a 2.4% annualized yield.

ASK Capital Investment Managers LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,058 shares of the medical research company's stock, valued at approximately $2,975,000. Amgen makes up 3.3% of ASK Capital Investment Managers LLC's holdings, making the stock its 15th biggest position.

A number of other institutional investors have also added to or reduced their stakes in AMGN. Wellington Altus USA Inc. increased its position in shares of Amgen by 72.3% in the second quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company's stock worth $28,000 after purchasing an additional 34 shares during the last quarter. Tower View Wealth Management LLC increased its holdings in shares of Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after buying an additional 63 shares during the last quarter. Security National Bank of Sioux City Iowa IA bought a new position in shares of Amgen in the 2nd quarter worth $36,000. Evergreen Advisors LLC purchased a new stake in shares of Amgen during the 1st quarter valued at $37,000. Finally, Steph & Co. purchased a new stake in shares of Amgen during the 3rd quarter valued at $42,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on AMGN. HSBC lowered shares of Amgen from a "buy" rating to a "hold" rating and cut their target price for the stock from $445.00 to $425.00 in a research report on Thursday, September 10th. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research note on Saturday. Morgan Stanley lowered their price target on Amgen from $362.00 to $359.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 7th. Jefferies Financial Group reaffirmed a "hold" rating and set a $410.00 price target on shares of Amgen in a research note on Wednesday, September 23rd. Finally, Weiss Ratings upgraded Amgen from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $387.93.

Amgen Trading Down 1.1%

NASDAQ AMGN opened at $412.84 on Wednesday. The firm has a market cap of $223.19 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 3.01 and a beta of 0.41. Amgen Inc. has a 1-year low of $288.00 and a 1-year high of $447.03. The stock has a 50-day moving average of $414.16 and a 200-day moving average of $373.24. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results 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. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The business had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same period last year, the company earned $6.02 EPS. Amgen's revenue for the quarter was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 22.94 EPS for the current year.

Amgen Announces Dividend

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

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 2,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the transaction, the senior vice president directly owned 6,404 shares of the company's stock, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of the firm's stock in a transaction dated 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 completion of the sale, the senior vice president directly owned 7,340 shares in the company, valued at $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. Insiders sold 6,222 shares of company stock worth $2,540,926 in the last 90 days. Corporate insiders own 0.85% of the company's stock.

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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