Geode Capital Management LLC Has $4.67 Billion Stock Position in Amgen Inc. $AMGN

Key Points

• Geode Capital Management increased its Amgen stake by 7.8% in the fourth quarter, ending with 14.3 million shares valued at about $4.67 billion. The firm now owns roughly 2.66% of the company.
• Amgen’s latest results beat expectations, with quarterly EPS of $5.15 versus the $4.77 consensus and revenue of $8.62 billion, up 5.8% year over year. The company also issued FY 2026 EPS guidance of 21.7 to 23.1.
• Amgen is paying a quarterly dividend of $2.52 per share, equal to an annualized yield of about 3.0%. Meanwhile, analysts currently have a consensus rating of Hold with an average price target of $355.19.

Geode Capital Management LLC grew its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,303,294 shares of the medical research company's stock after buying an additional 1,035,779 shares during the quarter. Geode Capital Management LLC owned approximately 2.66% of Amgen worth $4,665,822,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. High Note Wealth LLC boosted its holdings in shares of Amgen by 5.8% in the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock worth $166,000 after buying an additional 28 shares during the period. West Family Investments Inc. boosted its holdings in shares of Amgen by 1.1% in the third quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company's stock worth $779,000 after buying an additional 30 shares during the period. Viawealth LLC boosted its holdings in shares of Amgen by 0.4% in the third quarter. Viawealth LLC now owns 7,168 shares of the medical research company's stock worth $2,023,000 after buying an additional 30 shares during the period. LOM Asset Management Ltd boosted its holdings in shares of Amgen by 1.2% in the third quarter. LOM Asset Management Ltd now owns 2,554 shares of the medical research company's stock worth $721,000 after buying an additional 30 shares during the period. Finally, Smith Salley Wealth Management boosted its holdings in shares of Amgen by 0.3% in the fourth quarter. Smith Salley Wealth Management now owns 10,786 shares of the medical research company's stock worth $3,530,000 after buying an additional 30 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were 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 of the company's stock, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.85% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup increased their price target on shares of Amgen from $315.00 to $345.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. Barclays assumed coverage on shares of Amgen in a research report on Friday, February 20th. They issued an "equal weight" rating and a $350.00 price target for the company. Cantor Fitzgerald reissued a "neutral" rating and issued a $350.00 price target on shares of Amgen in a research report on Wednesday, April 8th. Piper Sandler reduced their price target on shares of Amgen from $432.00 to $427.00 and set an "overweight" rating for the company in a research report on Thursday, May 14th. Finally, Guggenheim reduced their price target on shares of Amgen from $351.00 to $340.00 and set a "neutral" rating for the company in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Amgen presently has an average rating of "Hold" and a consensus price target of $355.19.

Amgen Price Performance

Shares of AMGN opened at $336.06 on Thursday. The firm has a market cap of $181.37 billion, a PE ratio of 23.39, a PEG ratio of 3.37 and a beta of 0.44. The firm's 50 day moving average price is $343.32 and its 200 day moving average price is $345.27. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. Amgen Inc. has a twelve month low of $267.83 and a twelve month high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating the consensus estimate of $4.77 by $0.38. The firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, research analysts expect that Amgen Inc. will post 22.37 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, May 15th. Amgen's dividend payout ratio (DPR) is presently 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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