Greg Jennings LLC Buys New Position in Amgen Inc. $AMGN

Key Points

• Greg Jennings LLC initiated a 5,750-share Amgen position worth approximately $2.4 million, representing 1.6% of its portfolio. Institutional investors collectively own 76.5% of the stock, with several major funds also increasing their holdings.
• Analyst sentiment remains mixed: Amgen has an average “Hold” rating and a consensus price target of $387.93, below its recent trading price of $424.94.
• Amgen reported quarterly earnings and revenue above estimates, while its $2.52 quarterly dividend implies a 2.4% yield. Investors remain focused on whether newer medicines can generate enough growth to support the company’s valuation.

Greg Jennings LLC bought a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,750 shares of the medical research company's stock, valued at approximately $2,424,000. Amgen makes up about 1.6% of Greg Jennings LLC's portfolio, making the stock its 20th largest holding.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp boosted its stake in Amgen by 38.2% in the 2nd quarter. State Street Corp now owns 42,205,243 shares of the medical research company's stock worth $15,283,363,000 after purchasing an additional 11,656,755 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Amgen in the second quarter worth about $1,831,903,000. Wellington Management Group LLP grew its position in Amgen by 1,102.7% during the second quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company's stock valued at $993,031,000 after buying an additional 2,514,254 shares during the period. BlackRock Inc. raised its position in shares of Amgen by 4.8% in the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company's stock worth $17,874,974,000 after acquiring an additional 2,261,544 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Amgen by 702.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,535,257 shares of the medical research company's stock worth $647,126,000 after buying an additional 1,344,010 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Australia’s Pharmaceutical Benefits Advisory Committee conditionally backed coverage for Imdelltra, Amgen’s treatment for small-cell lung cancer. A reimbursement decision could improve patient access and support future sales, although the conditional nature leaves implementation and approval details unresolved. PBAC conditionally backs Imdelltra
• Positive Sentiment: Exchange-traded funds reportedly purchased approximately $19.4 million of Amgen shares on October 15, indicating institutional demand and potentially providing technical support. Such flows are supportive but do not change the company’s underlying earnings outlook. ETFs Bought $19.4 Million of Amgen
• Neutral Sentiment: Several reports highlight Amgen’s broad portfolio, dividend, and potential growth from newer therapies. Zacks coverage mainly reflects increased investor attention rather than a new operational catalyst or change in estimates. Amgen: The Biotech Pioneer Preparing for Its Next Growth Wave
• Negative Sentiment: Analysts and market commentary emphasize that Amgen now needs stronger growth to justify its valuation. Mature products generate dependable cash flow and support the dividend, but investors are looking for faster expansion from newer drugs, making pipeline execution and commercial uptake key risks. Amgen Has the Drugs and the Dividend

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMGN. Wall Street Zen upgraded shares of Amgen from a "hold" rating to a "buy" rating in a research report on Sunday. Mizuho raised their price objective on shares of Amgen from $303.00 to $352.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 18th. Oppenheimer reaffirmed an "outperform" rating on shares of Amgen in a research report on Wednesday, September 23rd. Morgan Stanley lowered their target price on shares of Amgen from $362.00 to $359.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 7th. Finally, Citigroup upped their target price on shares of Amgen from $345.00 to $405.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $387.93.

Amgen Price Performance

Shares of AMGN stock traded down $7.55 during trading hours on Monday, hitting $424.94. The company's stock had a trading volume of 2,681,575 shares, compared to its average volume of 2,758,142. Amgen Inc. has a twelve month low of $288.00 and a twelve month high of $447.03. The stock has a market cap of $229.74 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 3.17 and a beta of 0.41. The business has a fifty day moving average of $415.54 and a 200-day moving average of $374.94. 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 data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. The business had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company's revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 22.94 EPS for the current year.

Amgen Announces Dividend

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

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of Amgen 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 sale, the senior vice president owned 6,404 shares in the company, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,222 shares of company stock valued at $2,540,926 over the last 90 days. Insiders own 0.85% of the company's stock.

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company's products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.

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