Dividend Assets Capital LLC Sells 9,002 Shares of Amgen Inc. $AMGN

Key Points

• Dividend Assets Capital LLC reduced its Amgen stake by 20.1% in the first quarter, selling 9,002 shares and leaving it with 35,864 shares valued at about $12.6 million.
• Amgen reported better-than-expected Q1 earnings, posting EPS of $5.15 versus the $4.77 estimate and revenue of $8.62 billion, with sales up 5.8% year over year.
• Analysts remain mixed on the stock: Amgen has a Hold consensus rating and an average price target of $355.50, while recent insider activity included a senior vice president selling shares.

Dividend Assets Capital LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 20.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,864 shares of the medical research company's stock after selling 9,002 shares during the quarter. Amgen comprises 2.5% of Dividend Assets Capital LLC's portfolio, making the stock its 11th biggest holding. Dividend Assets Capital LLC's holdings in Amgen were worth $12,619,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. DGS Capital Management LLC lifted its holdings in Amgen by 24.2% during the 1st quarter. DGS Capital Management LLC now owns 2,595 shares of the medical research company's stock valued at $913,000 after buying an additional 506 shares in the last quarter. Ascentis Independent Advisors boosted its position in Amgen by 153.2% during the 1st quarter. Ascentis Independent Advisors now owns 13,541 shares of the medical research company's stock valued at $4,765,000 after acquiring an additional 8,192 shares in the last quarter. Stephens Inc. AR boosted its position in Amgen by 8.6% during the first quarter. Stephens Inc. AR now owns 114,544 shares of the medical research company's stock valued at $40,647,000 after purchasing an additional 9,094 shares in the last quarter. Hardy Reed LLC grew its position in shares of Amgen by 4.6% in the 1st quarter. Hardy Reed LLC now owns 681 shares of the medical research company's stock worth $240,000 after buying an additional 30 shares during the last quarter. Finally, Argus Investors Counsel Inc. grew its holdings in Amgen by 46.3% in the first quarter. Argus Investors Counsel Inc. now owns 1,951 shares of the medical research company's stock worth $686,000 after purchasing an additional 617 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

AMGN opened at $374.15 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The company has a market cap of $201.93 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.68 and a beta of 0.41. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $391.29. The firm's fifty day simple moving average is $342.43 and its two-hundred day simple moving average is $348.09.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.58 billion. During the same quarter in the previous year, the company earned $4.90 earnings per share. The company'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. Equities analysts anticipate that Amgen Inc. will post 22.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Canaccord Genuity Group initiated coverage on shares of Amgen in a report on Monday, April 20th. They issued a "hold" rating and a $366.00 price target for the company. Mizuho raised their price objective on shares of Amgen from $295.00 to $303.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 16th. Freedom Capital upgraded shares of Amgen from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Wells Fargo & Company increased their target price on shares of Amgen from $375.00 to $390.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 19th. Finally, Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Amgen has an average rating of "Hold" and a consensus price target of $355.50.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the transaction, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.85% of the stock is owned by insiders.

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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