G&S Capital LLC Makes New $1.58 Million Investment in Amgen Inc. $AMGN

Key Points

• G&S Capital LLC initiated a $1.58 million position in Amgen by purchasing 4,359 shares during the second quarter. Institutional investors and hedge funds collectively own 76.5% of AMGN.
• Analyst sentiment remains mixed, with Amgen holding a consensus “Hold” rating and an average price target of $371.68, despite several recent target increases. The stock opened at $414.30, near its 52-week high of $421.79.
• Amgen exceeded quarterly expectations, reporting $6.29 in adjusted earnings per share and $10.05 billion in revenue, up 9.5% year over year. The company also declared a quarterly dividend of $2.52, equivalent to an annualized yield of approximately 2.4%.

G&S Capital LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,359 shares of the medical research company's stock, valued at approximately $1,578,000.

Several other large investors have also modified their holdings of AMGN. High Note Wealth LLC increased its position in shares of Amgen by 5.8% during the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock worth $166,000 after purchasing an additional 28 shares during the last quarter. TAGStone Capital Inc. lifted its position in Amgen by 0.7% in the fourth quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company's stock valued at $1,351,000 after buying an additional 28 shares during the last quarter. Verus Capital Partners LLC boosted its stake in Amgen by 2.3% during the fourth quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company's stock worth $403,000 after buying an additional 28 shares during the period. Destination Wealth Management boosted its stake in Amgen by 2.1% during the fourth quarter. Destination Wealth Management now owns 1,393 shares of the medical research company's stock worth $456,000 after buying an additional 29 shares during the period. Finally, Breakwater Capital Group increased its position in shares of Amgen by 1.4% during the first quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company's stock valued at $717,000 after acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 2,970 shares of the business's stock in a transaction 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 completion of the transaction, the senior vice president directly owned 7,340 shares of the company's stock, valued at $2,951,854.40. The trade was a 28.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMGN. Argus decreased their price objective on shares of Amgen from $400.00 to $375.00 and set a "buy" rating on the stock in a report on Wednesday, May 20th. Morgan Stanley lifted their target price on shares of Amgen from $333.00 to $351.00 and gave the company an "equal weight" rating in a report on Wednesday, August 5th. Daiwa Securities Group cut their target price on Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. BMO Capital Markets upped their price target on Amgen from $400.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Finally, TD Cowen raised their price target on Amgen from $420.00 to $452.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $371.68.

Amgen Trading Down 0.7%

NASDAQ AMGN opened at $414.30 on Wednesday. The firm has a 50 day simple moving average of $366.26 and a 200-day simple moving average of $357.53. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. Amgen Inc. has a one year low of $269.77 and a one year high of $421.79. The firm has a market cap of $223.98 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 3.88 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last announced 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. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm had revenue of $10.05 billion during the quarter, compared to analysts' expectations of $9.43 billion. During the same quarter in the previous year, the business posted $6.02 earnings per share. The business's quarterly revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities research analysts anticipate that Amgen Inc. will post 22.78 EPS for the current fiscal year.

Amgen Dividend Announcement

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

Amgen Profile

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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