Atria Investments Inc Buys 10,877 Shares of Amgen Inc. $AMGN

Key Points

• Atria Investments boosted its stake in Amgen by 26.2% in the fourth quarter, buying 10,877 additional shares and ending with 52,324 shares valued at about $17.1 million.
• Analysts remain mixed on Amgen: several firms raised price targets, but the overall consensus is still “Hold” with a target price of $356.35.
• Amgen reported better-than-expected Q1 earnings of $5.15 per share on revenue of $8.62 billion, and it also declared a quarterly dividend of $2.52 per share payable June 5.

Atria Investments Inc increased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 26.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,324 shares of the medical research company's stock after acquiring an additional 10,877 shares during the quarter. Atria Investments Inc's holdings in Amgen were worth $17,126,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AMGN. Anfield Capital Management LLC raised its stake in Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Dogwood Wealth Management LLC grew its holdings 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 purchasing an additional 55 shares during the last quarter. Board of the Pension Protection Fund bought a new position in shares of Amgen in the fourth quarter worth about $26,000. Manning & Napier Advisors LLC grew its holdings 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 purchasing an additional 32 shares during the last quarter. Finally, Olistico Wealth LLC bought a new position in Amgen during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on AMGN. Argus increased their target price on shares of Amgen from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, February 6th. Mizuho increased their price objective on shares of Amgen from $280.00 to $295.00 and gave the company an "outperform" rating in a research report on Tuesday, February 10th. Leerink Partners reaffirmed a "market perform" rating and issued a $355.00 price objective on shares of Amgen in a research report on Thursday, March 5th. Wells Fargo & Company raised their price target on shares of Amgen from $375.00 to $390.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 19th. Finally, Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $356.35.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the transaction, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is currently owned by corporate insiders.

Amgen Price Performance

Amgen stock opened at $336.45 on Thursday. Amgen Inc. has a 1 year low of $261.43 and a 1 year high of $391.29. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. The company's fifty day moving average price is $351.05 and its 200 day moving average price is $342.80. The stock has a market capitalization of $181.58 billion, a P/E ratio of 23.41, a P/E/G ratio of 3.38 and a beta of 0.44.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.58 billion. During the same quarter in the previous year, the company posted $4.90 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 22.36 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be issued a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, May 15th. Amgen's payout ratio is currently 70.15%.

About Amgen

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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