Empowered Funds LLC Takes Position in Amgen Inc. $AMGN

Key Points

• Empowered Funds LLC purchased 95,907 Amgen shares worth approximately $34.7 million during the second quarter. Institutional investors collectively own 76.5% of AMGN.
• Amgen reported quarterly earnings of $6.29 per share on $10.05 billion in revenue, 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 2.3% annualized yield.
• Tezspire’s positive Phase 3 results in eosinophilic esophagitis could expand the drug’s commercial opportunity, though Amgen also ended a Crohn’s disease research collaboration with TScan Therapeutics. Analysts’ consensus rating remains “Hold,” with an average price target of $380.43.

Empowered Funds LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 95,907 shares of the medical research company's stock, valued at approximately $34,730,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Anfield Capital Management LLC raised its holdings in Amgen by 1,000.0% in the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after purchasing an additional 70 shares during the period. Dogwood Wealth Management LLC grew its holdings in Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after purchasing an additional 55 shares during the period. Tower View Wealth Management LLC increased its position in Amgen by 331.6% in the first 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 in the last quarter. Manning & Napier Advisors LLC raised its stake 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 buying an additional 32 shares during the period. Finally, Evergreen Advisors LLC bought a new position in shares of Amgen in the first quarter worth about $37,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 0.8%

Shares of AMGN opened at $436.99 on Friday. 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 business has a fifty day moving average of $386.75 and a 200 day moving average of $364.23. The company has a market cap of $236.25 billion, a PE ratio of 27.16, a P/E/G ratio of 3.18 and a beta of 0.41. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $447.03.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. During the same quarter in the prior year, the firm posted $6.02 earnings per share. The business's revenue for the quarter was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, sell-side analysts expect that Amgen Inc. will post 22.92 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 21st. Amgen's payout ratio is currently 62.65%.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Tezspire posted strong Phase 3 results in eosinophilic esophagitis (EoE). The drug met both co-primary and all key secondary endpoints, producing statistically significant and clinically meaningful improvements in tissue inflammation and difficulty swallowing. Benefits were sustained through 52 weeks, supporting a potential third approved indication beyond asthma and chronic rhinosinusitis with nasal polyps. Tezspire Phase 3 results
• Positive Sentiment: The EoE opportunity could materially expand Tezspire’s commercial potential. Analysts and industry commentators view EoE as a possible blockbuster market, potentially allowing Amgen and partner AstraZeneca to compete more directly with established biologics such as Dupixent. Regulatory filing and approval remain necessary before the opportunity can translate into revenue. Tezspire EoE market opportunity
• Neutral Sentiment: Amgen began a Phase 1 study of AMG 691 aimed at a potentially important Asian market. The trial could add a long-term growth asset, but it is at an early stage and provides limited near-term earnings visibility. AMG 691 Phase 1 trial
• Negative Sentiment: Amgen ended its Crohn’s disease research collaboration with TScan Therapeutics. The decision removes an exclusive effort to identify and develop T-cell targets in inflammatory bowel disease, narrowing one element of Amgen’s early pipeline and highlighting uncertainty around its partnership strategy. Amgen ends Crohn’s disease partnership

Insider Activity

In other news, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the transaction, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,666,817.72. This trade represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $1,194,415.20. Following the sale, the senior vice president owned 7,340 shares of the company's stock, valued at $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Bank of America increased their target price on shares of Amgen from $312.00 to $317.00 and gave the stock an "underperform" rating in a report on Wednesday, August 5th. Daiwa Securities Group dropped their price target on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Erste Group Bank restated a "hold" rating on shares of Amgen in a research report on Tuesday, May 5th. Cantor Fitzgerald raised their price target on Amgen from $350.00 to $400.00 and gave the company a "neutral" rating in a report on Tuesday, August 18th. Finally, Royal Bank Of Canada lifted their price objective on shares of Amgen from $370.00 to $400.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $380.43.

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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